Revenues to the federal budget from the tax on excess profits of large companies amounted to 318.8 billion rubles, exceeding the target of 300 billion rubles by 18.8 billion rubles. In this respect reported At the Ministry of Finance of the Russian Federation.
According to the ministry, most companies paid taxes in the form of a deposit at a reduced rate of 5% in 2023. However, some chose to pay the full 10% payment in January 2024.
“The registration volume at the end of 2023 is 315.5 billion rubles, and for 2024 it is 3.3 billion rubles,” the Ministry of Finance said.
The tax affected only large companies whose profits for 2021-2022 exceeded 1 billion rubles. The deadline for payments is January 28, 2024. The ministry assured that funds generated from the tax will be used to implement government programs and support businesses.
“The tax on companies’ excess profits is a one-time measure; there are no plans to reintroduce the tax,” the Ministry of Finance emphasized.
The law on the excess profits tax was signed by President Vladimir Putin in August 2023. A number of sectors are exempt from payment, including oil and gas.
It was known that there was no bankruptcy before this will save From Russian companies paying excessive profit taxes.
Previously Forbes I learned About plans to introduce a differentiated income tax rate in the Russian Federation.