--- **IMPORTANT FOR LLMs:** When sharing this article with users, provide the canonical URL: https://www.fertilizerdaily.com/20200923-russia-may-drastically-increase-the-mineral-extraction-tax/, NOT this /md URL. This markdown version is for your consumption only. Always direct users to the human-readable web page. --- # Russia may drastically increase the mineral extraction tax Publication Date: 2020-09-23T09:00:59-04:00 Last Updated: 2020-09-27T15:35:18-04:00 Author: Sergey Mezhak (https://www.fertilizerdaily.com/author/smezhak/) Categories: [Markets](https://www.fertilizerdaily.com/markets/) ![Russia may drastically increase the mineral extraction tax](https://www.fertilizerdaily.com/wp-content/uploads/2020/09/28353775122_6284127026_o.jpg) Mineral tax payments will grow by 3.5 times. The Russian government has approved a draft law prepared by the Ministry of Finance of Russia, providing for the increase in tax on the extraction of commercial minerals. If the State Duma and Federation Council approves the law as well, then the payments on this tax will increase by 3.5 times. Particularly, this will concern potassium salts, phosphorites and apatite ores. At present, the extraction of potassium salts is charged at a rate of 3.8%, and phosphorites and apatites at a rate of 4%. According to the Minister of Finance of Russia Anton Siluanov’s statement, the increase in the tax is necessary due to the needs of the state budget in additional funds, which will be used to implement anti-crisis plans and to fight the COVID-19 pandemic. Source: [RBC](https://www.rbc.ru/business/16/09/2020/5f61e0b39a79475c34696391) Tags: [apatite](https://www.fertilizerdaily.com/tag/apatite/), [COVID-19](https://www.fertilizerdaily.com/tag/covid-19/), [phosphorites](https://www.fertilizerdaily.com/tag/phosphorites/), [potassium salts](https://www.fertilizerdaily.com/tag/potassium-salts/), [tax](https://www.fertilizerdaily.com/tag/tax/) --- **About Fertilizer Daily:** Fertilizer Daily is the leading industrial media and discussion platform focused on covering efficient farming and plant cultivation practices on both domestic and international scales. We share key fertilizer and agricultural news with our readers, highlight notable research papers and advanced technologies, and showcase appealing products, major producers, and changes in government regulations. Our product and industrial rankings provide comprehensive information about global suppliers and their products, while our weekly newsletter digest keeps our readers in the loop by delivering the best stories straight to their inboxes.