The government approved the draft law on windfall tax from excess profits – Kommersant

The government has approved a draft law on the taxation of excess profits of large businesses (windfall tax) for the period 2021-2022. This was reported press office Ministry of Finance. According to Finance Minister Anton Siluanov, these funds will go to social needs.

The tax rate will be 10% of excess profit for 2021-2022 over the same indicator for 2018-2019. The tax must be paid by January 28, 2024.

The bill provides for a number of exceptions:

• The tax will not be levied on companies whose profit is less than 1 billion rubles.
• The tax will not affect companies established after 2020.
• The tax perimeter will not include small and medium-sized businesses, unified agricultural tax payers, as well as companies in the oil and gas sector and coal mining.

The tax can be reduced to 5% by transferring a security deposit from October 1 to November 30, 2023. It is assumed that such a scheme will operate through a tax deduction.

“By agreement with the social bloc, we will direct these resources to support families with children, to the decisions that were made last year on targeted and targeted support for needy families,” Anton Siluanov said, his words are quoted press office government.

How the income of big business turned out to be an island of stability – in the material “Profit doesn’t come alone”.

Anastasia Larina