The Impact of Changes in Tax Burden on Profitability and Price Level of Products of Energy Companies of Russia and the EU

The role of energy, especially the oil industry, has always been at a priority place in the economic policy of Russia. The stability and development of the state required changes in the economic environment, which resulted in the reform of the taxation of the oil sector, which began in 2014. In the context of ongoing changes in the tax administration of oil companies, it is important to assess the impact that a change in the tax burden may have on the profitability and price level of products of oil corporations of Russia and the EU and to identify possible patterns according to which the economy will develop further. In the context of this study, the impact of the tax maneuver in the Russian oil industry on the profitability indicators of companies of Russia and the EU in Russia, which also had an effect on the price level of oil products, will be analyzed. The purpose of this work is to study the extent of the impact of changes in the structure of the tax burden on key financial indicators of corporations, such as profitability and an assessment of the degree of influence of this process on the price level of fuel and other petroleum products. The comparative method and the calculation of financial indicators will be used in this work to assess the amount of influence exerted on key aspects of the economic activities of the oil companies of Russia and the EU in Russia.