Russian energy exporters may face the “Kudrin’s scissors” effect due to the high volatility in the ruble exchange rate. reported vedomosti.
As Vedomosti writes, this is because time elapses between the moment incomes are received in foreign currency and the income tax is incurred. If the ruble rises sharply during this period, dollar-denominated companies will have to sell more money to buy the ruble to pay taxes.
This phenomenon was called “Kudrin’s scissors” in the mid-2000s. Headed by then Finance Minister Alexei Kudrin, introduced A system where taxes are calculated based on previous exchange rates and raw material prices.
According to experts, the “scissors” effect will be particularly effective in the current situation. noticeable Due to the high volatility of the ruble. In addition, companies may have difficulty generating revenue due to reconciliation issues. As a result, they will have to sell for more money than they can afford.
Previously recognizedWhen oil prices drop to $50 a barrel.