An unexpected one-time levy on the budget derived from surplus profits of Russian enterprises for 2021 and 2022 could amount to as much as 10 percent of the excess profit. This threshold would apply to the portion that exceeds the levels seen in 2018 and 2019. This information is cited by Interfax, which references multiple people familiar with a draft amendment to the Tax Code of the Russian Federation. If the payment is made ahead of schedule—before the formal introduction of these changes on January 1, 2024—the rate is expected to be 5 percent.
In the publication, it is noted that the bill has not yet been published. One source indicates that the interested parties have just been shown the draft and that discussions are still ongoing. The sense among those briefed is that the proposal is moving through an early stage of deliberation and may undergo further modification before any formal release.
According to the agency’s interlocutors, the official tax rate is envisioned at 10 percent. A provision described as a “reduction” on the amount of funds transferred free of charge to the federal budget from October 1 to November 30, 2023 would be documented as a tax credit, effectively doubling in value when the calculation is completed. This implies a mechanism designed to lessen the immediate cash impact on the budget while still registering the same overall revenue effect.
The Ministry of Finance of the Russian Federation anticipates that all potential taxpayers will utilize this mechanism as part of their tax planning. The ministry’s stance suggests a push toward broad participation, with the expectation that compliant entities will take advantage of the available deduction or credit in the transition period described by the bill. This could shape corporate budgeting strategies and influence the timing of transfers to the federal budget during the relevant months.
A separate source cautions that the bill includes tailored provisions for certain sectors. Specifically, exemptions or favorable terms are said to be included for oil and coal companies as well as producers of liquefied natural gas. If confirmed, such carve-outs would create a differentiated impact across industries and could affect the competitive landscape for energy producers, both within Russia and in relation to international markets. Stakeholders are watching closely to see how these sector-specific provisions will be reconciled with the broader framework of the levy and its intended fiscal goals.