Bloomberg: a one-time fee will be extended to foreign companies leaving the Russian Federation
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Foreign companies leaving Russia will not be exempted from a one-time excess profit tax, which is planned to be introduced, sources said Bloomberg. Initially, it was planned to apply the tax to large companies whose excess profits exceed 1 billion rubles.
Alternatively, this fee could be factored into the price agreed to in the exit deal, according to Bloomberg. It is argued that there will be no exceptions, “because the budget needs money.” The Treasury has not yet responded to a request for comment.
A one-time fee from business (windfall tax) has been discussed in the government in recent months. The Russian authorities expect to receive about 300 billion rubles from this. The difference in profits of companies in 2021-2022 compared to 2018-2019 will fall under the additional tax. The law is expected to take effect in 2024, but companies will be able to pay it at a discount in 2023.
Read more about the new tax – in the material “Kommersant” “Capital was left with no choice”.
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