According to non-governmental organization Vojvodina Research and Analysis Center (VOICE), Serbian oil company NIS, which is owned by Russian Gazprom, paid last year 36 % on behalf of the mining royalties.
In 2015, NIS paid about 113.7 million euros to the state budget for the exploitation of mineral resources in Serbia NIS, while the same item amounted to 178.7 million euros a year earlier. In Serbia, the old legislation is still applied to for NIS, which is why the company pays only 3 % on behalf of the mining royalties. For all other companies which operate in Serbia, the new royalties of 7 % are applied, which puts NIS in a privileged position.
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Tags: Gazprom, legislation, mining royalties, NIS, oil, production, royalties, Serbia