The one-time tax levy from the budget, which the Russian authorities want to levy on large companies (the so-called windfall tax, windfall tax), will not be paid by oil, gas and coal companies, as well than by medium-sized small and medium-sized enterprises. This was announced by Deputy Finance Minister Alexei Sazonov, transmits Interfax.
The fee is a share of the excess of 2021-22 earnings over 2018-19 earnings.
“Everything is getting there, except oil and gas, coal and companies whose pre-tax net profit for 2021-2022 is less than 1 billion rubles. This is an exception, everyone gets in, and whoever has an increase will pay the tax, whoever does not, he will not, ”said Sazonov.
Interfax notes that exceptions for the oil and gas industry and small/medium enterprises were announced immediately, but it was thought the charges would not affect banks. Asked by reporters whether banks would be exempted from the tax, Sazonov replied that “now I haven’t heard of such exceptions.”
The bell reported that in December the government offered companies a one-time payment to the budget of 200-250 billion rubles. In response, companies Free increase the 20% income tax on Russian companies by 0.5 percentage points in 2023.
First Deputy Prime Minister Andrei Belousov then said the government was discussing a one-time voluntary contribution to the budget. But, according to him, it is not a question of increasing taxes, but of an exceptional tax. He noted that last year’s financial results “were very good” and that many companies had “very positive” results. A Vedomosti source close to the government underlinethat we are talking about 250 billion rubles.
In February, Finance Minister Andrey Siluanov informed, an additional fee for large companies will be implemented via fiscal tools, and not in the form of a “voluntary contribution”. According to the minister, the fee will be about 300 billion rubles.
In January 2023 Bloomberg writingthat the Russian authorities intend to increase the income of certain manufacturers and state-owned companies, as well as to reduce non-military expenditure. The publication referred to Prime Minister Mikhail Mishustin’s order and informed sources. The document referred to these measures as “revenue mobilization”. Among other things, it dealt with the increase in dividends from public companies and a “lump sum payment” from producers of fertilizers and coal. Bloomberg sources said some of the additional revenue will be used to cover expenses related to the war in Ukraine.
Federal budget deficit in January 2023 compound 1,760 billion rubles, which is 14 times its volume in January 2022 (125 billion rubles). At the same time, the budget law for the whole of 2023 provided for a deficit in the amount of 2.93 trillion rubles.