Fortum will transfer 449 million rubles of excess profit tax
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Fortum intends to take advantage of the early payment option, which reduces the tax rate from 10% to 5%.
On August 4, it was reported that Russian President Vladimir Putin signed a law on a one-time tax of 10% on the excess profits of large businesses (the so-called windfall tax). The tax is levied on the excess of the arithmetic average profit for 2021–2022. over the arithmetic mean of profit in 2018–2019. and must be paid no later than January 28, 2024. If the fee is paid from October 1 to November 30, 2023, the rate is reduced to 5%.
The Russian “daughter” of the Finnish energy company “Fortum” passed into the temporary management of the Federal Property Management Agency after Putin signed a decree on April 25 on the mechanism for introducing temporary management of foreign assets in Russia. The Board of Directors of Fortum promptly appointed a new CEO. Them became chief power engineer of the Bashneft-dobycha company (part of theRosneft”) Vyacheslav Kozhevnikov. Fortum disagreed with the decision of the Russian authorities. Company President Markus Rauramo said that the corporation still allows the sale of its business in Russia, but this process was complicated by a change in management. In June, it was reported that the energy company Fortum intends to change name to Forward Energo. The company explained this decision by the need to resolve issues in the field of the use of intellectual property.
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