The Russian budget has already received about 40 billion rubles under windfall tax | November 20, 2023

MOSCOW, November 20. /TASS/. The federal budget of the Russian Federation has already received about 40 billion rubles from the planned 300 billion rubles for excess profit tax, said Finance Minister Anton Siluanov, speaking at Federation Council.

“As for the first question – regarding the excess profit tax. We planned to attract about 300 billion rubles. Now, out of the amount we planned, about 40 billion rubles have been received. But the main payment period will be November – December. Therefore, by the end of the year, we hope, the planned figure will be achieved,” Siluanov said.

For large companies whose average pre-tax profit for 2021-2022 exceeded 1 billion rubles, the so-called excess profit tax was introduced. It is 10% of the excess profit for 2021−2022 over the same indicator for 2018−2019.

The tax must be paid by January 28, 2024. However, its amount can be halved if you transfer the security payment in the period from October 1 to November 30, 2023. Revenues from the tax are planned in the amount of 300 billion rubles, they will be credited to federal budget and be of a one-time nature.

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