Electrometallurgists asked to reduce the tax on excess profits
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The Association of Electrometallurgical Enterprises (AEMP) asked to reduce the one-time windfall tax for these enterprises by the amount of excise tax on liquid steel they paid in 2022. This is stated in a letter from the association addressed to Deputy Finance Minister Alexei Sazanov dated April 18 (available to Vedomosti).
At the end of April 2023, the Ministry of Finance approved the procedure for regulating a one-time fee from business and sent it to departments and business associations with a request to agree before May 10. The entry into force of the law is provided for from January 1, 2024. The emergency tax rate is proposed to be set at 10% of the amount of excess profit for 2021-2022. over the indicators of 2018–2019 If windfall tax is paid in advance from October 1 to November 30, 2023, the rate will be reduced to 5%. There will be no targeted exceptions for individual companies, Finance Minister Anton Siluanov warned at the end of April.
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