Siluanov allowed an increase in contributions to the budget from companies leaving Russia

Finance Minister Anton Siluanov said the agency is discussing an increase in a one-time payment from companies leaving Russia. Now it is at least 10% of half of the market value of the company’s assets.

“We hear that some of our colleagues say that we take a little: 10% of just half of the company’s value. It would be possible to increase this amount and direct these funds just for technological development. We think,” Mr. Siluanov said to the RBC TV channel at the St. Petersburg International Economic Forum (quoted from “RIA News”).

He also said that the department does not plan to adjust the main points of the budget rule. However, he allowed temporary derogations when adjusting spending in 2023. The volume of possible additional expenses, he said, will be discussed in the government.

The budget rule was suspended at the beginning of 2022, and from January 2023 it was restored. The new parameters assume that the basic oil and gas revenues will amount to 8 trillion rubles annually, and from 2026 this amount should increase by 4%.

Foreign companies leaving Russia in the event of the sale of their assets at a discount below 90%, non-residents must contribute to the budget of the Russian Federation at least 5% of their market value. If the discount exceeds 90%, then the contribution must be at least 10%. In the spring, the Ministry of Finance approved the procedure for a one-time tax collection on the excess profits of Russian business: a contribution to the federal budget can be paid in the amount of 5% in 2023 or 10% in 2024.

Lusine Balasyan