Finance Minister Anton Siluanov, speaking at the Federation Council, said that the budget has already received about 40 billion rubles as part of the windfall tax. In total, it is planned to attract 300 billion rubles as part of the windfall tax.
“As for the first question - regarding the excess profit tax. We planned to attract about 300 billion rubles. Now, out of the amount we planned, about 40 billion rubles have been received. But the main payment period will be November-December. Therefore, by the end of the year, we hope, the planned figure will be achieved,” said Anton Siluanov (quoted from Interfax).
The excess profit tax for companies was introduced this year. It must be paid by large companies with an average pre-tax profit for 2021–2022 of more than 1 billion rubles. The tax is 10% of the excess profit for the period 2021–2022 over the figure for the period 2018–2019. The tax must be paid by January 28, 2024. It can be halved by transferring the security payment from October 1 to November 30 of the current year.
Deputy Minister of Finance Alexey Sazanov saidthat excess profit tax collections may exceed the planned threshold of 300 billion rubles—by a maximum of 5%. In September, a group of State Duma deputies proposed extending the excess profit tax to oil and gas companies. However, according to Izvestia, the Ministry of Finance opposed this proposal.
Read more about windfall tax in the Kommersant article “Excess profit has approached the budget”.