Siluanov: the rate of a one-time fee from the business will be about 5% of excess profits

The rate of a one-time fee to the budget from business excess profits for 2021–2022 will be about 5%, said the Minister of Finance of the Russian Federation Anton Siluanov at the congress of the Russian Union of Industrialists and Entrepreneurs (RSPP).

“We are now roughly predicting a rate of about 5%, we will consider it in order to approximately meet the parameters that we have determined for replenishing the budget,” – leads his words “Interfax”.

Legislatively, the business contribution will be fixed in the spring session of parliament, Siluanov noted. The amendment will come into force in 2024, but businesses will benefit from advance payment this year, he added.

“We will lay down mechanisms that encourage our entrepreneurs to pay this year, although there will be the possibility of paying next year, but it will be less financially profitable,” he said.

Earlier, Deputy Finance Minister Alexei Sazanov said that the contribution rate would be defined in early April, when all income tax returns will be submitted (according to the Tax Code, it must be submitted no later than March 25). Revenues from collection payments to the budget are expected in the fourth quarter. According to him, the voluntary fee from business will not affect the oil and gas and coal sectors, small and medium-sized entrepreneurs, as well as companies with net pre-tax profits for 2021-2022. up to 1 billion rubles He added that banks were not included in the list of exceptions.

On February 8, First Deputy Prime Minister Andrey Belousov announced that the government is discussing with big business a one-time voluntary tax contribution to the budget. According to him, this is not a tax increase, but the so-called windfall tax (tax on windfall profits). Many businesses had “very good” financial results last year, especially in the first three quarters, he stressed. Later, Finance Minister Anton Siluanov noted that the Ministry of Finance counts receive from the business a total of about 300 billion rubles. According to him, the collection of a tax on profit growth in 2021 and 2022 is now being considered. compared to 2019 and 2020

At the same time, the Kremlin emphasized that the contribution is voluntary. According to the press secretary of the President of Russia Dmitry Peskov, the interaction between the country’s leadership and business is “a two-way road.” It is necessary to understand the current realities and needs of the country, he stressed.