AvtoVAZ is unlikely to pay excess profit tax in 2023 – Kommersant
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AvtoVAZ is unlikely to pay windfall tax this year, said Deputy Prime Minister and Head of the Ministry of Industry and Trade Denis Manturov. According to him, the company does not meet the criteria obliging the payment.
“AvtoVAZ is unlikely to pay windfall tax this year, because AvtoVAZ does not fall under the criterion by which the decision to pay is made,” Mr. Manturov said on the sidelines of the Innoprom.Kazakhstan exhibition (quoted by TASS).
In response to a clarifying question about whether any of the automakers are subject to tax payments, he replied that he knew of no such companies. “I don’t know about such supermargins in mechanical engineering,” the minister said.
President Vladimir Putin August 4 signed excess profit tax law. The one-time business tax applies to companies whose profits for 2021 and 2022 exceeded 1 billion rubles. The tax rate is set at 10% of the excess profit. The rate can be reduced to 5% if the company pays tax in the current year.
Details – in the material “Kommersant” “Excess profit has approached the budget”.
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