The Chamber of Commerce and Industry proposed granting residents of special economic zones (SEZs) relief from the so-called unexpected tax, a surcharge on income that many businesses find burdensome. The proposal, reported by the press, follows a parliamentary decision announced during the bill’s second reading. It marks a cautious attempt to shield certain SEZ participants from additional tax pressure, arguing that it could sustain investment momentum even when projects encounter delays or capacity gaps. [Source: official parliamentary briefings]
The exemption would apply only to companies that invested capital in 2018 and 2019 and whose projects had not yet reached half of their planned production capacity. Analysts note that the bill, which passed the first reading in late June, risks removing certain investment incentives if adopted as written. Proponents argue that exempting firms under these conditions would spur further investment and help projects progress toward full operation. [Source: legislative coverage]
Under the bill, the term “surplus profit” is defined as the portion of average revenue for 2021-2022 that exceeds revenue from 2018-2019. Yet Sergey Katyrin, president of the Chamber of Commerce and Industry, clarified that the document does not grant exemptions to taxpayers who made 2018-2019 capital investments but did not engage in substantial business activity or generate notable profits. This nuance highlights the nuanced approach of the proposal and its potential impact on different investment scenarios. [Source: CCI remarks]
According to the CCI’s proposal, SEZ residents who invested in 2018 and 2019 and whose projects remained below the 50% capacity threshold would receive relief from the unexpected tax. The Chamber has forwarded a formal opinion to Andrey Makarov, chair of the State Duma Committee on Budget and Taxes, signaling the ongoing negotiation within the legislative process. [Source: CCI correspondence]
Earlier reporting indicated that the electricity sector’s overall contribution to the budget was tied to the excess earnings tax, with estimates suggesting substantial sums could be at stake, potentially reaching up to 25 billion rubles according to calculations cited by Kommersant. The coverage underscores the scale of the policy debate and the fiscal implications for energy-intensive industries. [Source: Kommersant calculation brief]
Previously, commentators noted price dynamics around oil, with discussions about the threshold when oil prices dip to around $50 per barrel. This context matters because energy costs and tax arrangements in SEZs can interact with global commodity trends, affecting investment incentives and sector profitability. [Source: energy market analysis]