Duma promises PSA tax code changes. (News).(production-sharing agreement )(Brief Article)

Would-be investors in production-sharing agreement (PSA) projects in Russia hope to see a broadly acceptable PSA chapter of the country's tax code in place by the end of this year.

A finance ministry-drafted PSA chapter passed its first Duma reading last week (FSUE, 28 June, p7). At the same time, the Duma passed a resolution stating that various investor concerns will be resolved before the second reading, which is expected to take place by 1 October.

The news has been welcomed by the head of the Petroleum Advisory Forum (PAF), which has long been lobbying for acceptable PSA legislation "We are very positively impressed with the work the Duma has done," says …