The Ministry of Finance asked departments and business associations to agree on a bill on a one-time fee by May 10

The Ministry of Finance approved the procedure for regulating a one-time tax collection from business (windfall tax) and sent it to departments and business associations with a request to agree before May 10. This is stated in a letter signed on April 28 by Deputy Finance Minister Alexei Sazanov, which was read by Vedomosti. The excess profit fee must be paid no later than January 28, 2024. The law itself should come into force on January 1 next year. The amount of a one-time fee is calculated by the taxpayer independently, the bill says.

The letter was addressed to the Ministry of Economy, the Ministry of Industry and Trade, the Ministry of Agriculture, the Ministry of Health, the Ministry of Energy, the Federal Tax Service, the Accounts Chamber, the Institute of Legislation and Comparative Law under the government, as well as the Russian Union of Industrialists and Entrepreneurs (RSPP) and Delovaya Rossiya.

Aleksey Sazanov points out that the development of the draft laws is due to “the current economic situation and the fact that in 2021 and 2022 there was a fairly high level of market revenues in some sectors of the economy, in connection with which the relevant organizations were able to generate additional profit due to the exceptionally favorable price environment” .

Two bills were required to approve the one-time tax: “On the excess profit tax of past years” and amendments to Part 1 and Art. 270 h. 2 of the Tax Code. The collection from excess profits is planned to be formalized as an “emergency tax”, for this it is proposed to fix a new type of tax in the Tax Code.

The idea of ​​the collection has been discussed since the beginning of February. Initially, it was a voluntary contribution, but this concept was revised in favor of a mandatory payment. The Russian authorities expect to receive about 300 billion rubles in this way. Surplus profits received by companies in 2021-2022 will fall under the additional tax. The fee is proposed not to apply to the oil and gas, coal industries, small and medium-sized businesses and companies with pre-tax profits for 2021-2022 of less than 1 billion rubles.

April 28 Finance Minister Anton Siluanov clarifiedthat the contribution to the federal budget can be paid in the amount of 5% in 2023 or 10% in 2024. According to him, the payment will affect only a tenth of taxpayers. The minister noted that all previously designated exceptions for the oil and gas and coal industries, as well as small and medium-sized businesses, will remain in the project. At the same time, there will be no changes in the one-time payment to the budget for individual companies.

More details – in the material “Kommersant” “Five now, or ten later”.