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New oil fields may get tax holidays in 2006 - Finance Ministry

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MOSCOW, November 24 (RIA Novosti) - Tax holidays for new oil deposits may be announced in 2006, Deputy Finance Minister Sergei Shatalov said Thursday.

All sides involved in discussing severance tax differentiation have reached an agreement on this issue, Shatalov said, adding that tax holidays could be granted in East Siberia and the Arctic shelf.

"We should outline the terms of tax holidays and conditions for granting them," he said.

He said a relevant law could be adopted next year.

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