The State Duma adopted in the first reading the draft law “On the tax on excess profits of previous years” for large companies whose average profit for 2021 and 2022 turned out to be more than 1 billion rubles. It is reported by Interfax.
The tax rate will be 10% of the excess profit for 2021-2022. over the same indicator for 2018-2019. The tax must be paid no later than January 28, 2024, and its amount is calculated by taxpayers independently. At the same time, the amount of tax can be halved – to an effective rate of 5%, if the security deposit is transferred from October 1 to November 30, 2023.
Of the excess profit tax, 20% will fall on the extraction of solid minerals (SRT), 19% – on fertilizer manufacturers, 13% – on metallurgists, 12% – on trade and 9% will fall on banks, Deputy Finance Minister Alexei Sazanov said during a meeting of the State Duma .
The tax will not affect companies established after 2020, small and medium-sized businesses, organizations paying the unified agricultural tax. Also, companies in the oil and gas and coal sectors will not have to pay the new supertax, since they already have additional tax exemptions for MET and a damper for motor fuel this year.
In February, the Russian authorities abandoned the idea of introducing a “voluntary” business contribution to the Russian budget and began to consider simply introducing a new fee for companies whose average profit over the past two years exceeded 1 billion rubles, RBC reported, citing sources familiar with the negotiations.
Prior to the tax collection, the authorities proposed introducing a “voluntary” contribution to the Russian budget, which Russian companies would pay because of the “super profits” they received in 2021-2022. The idea came from First Deputy Prime Minister Andrey Belousov, who, not for the first time, proposed to increase the tax burden on businesses in order to replenish the budget. However, Belousov did not provide specific parameters for the “voluntary” contribution, and business and the government came to the conclusion that it would be problematic to organize “voluntary” contributions.