The revenue of Russian companies for the first time exceeded a quadrillion rubles

The revenue of Russian companies in 2022 for the first time exceeded RUB 1 qdrl. and amounted to 1.268 qddrl, which is twice as much compared to 2021. About this informed RBC with reference to FTS data.

For comparison: at the end of 2021, the companies’ revenue amounted to 655 trillion rubles. Despite the multiple growth in revenue, the net profit of companies increased not so significantly – by 5.9%, from 29.4 trillion to 31.1 trillion rubles. With an average inflation of 13.8%, the real profits of companies decreased, writes RBC.

According to the Federal Tax Service, such indicators are due to the growth of export earnings, mainly by oil and gas companies, as well as the recovery in consumer demand. The company’s revenue exceeded a quadrillion already in the first nine months of last year. According to Alexander Chepurenko, professor of the Department of Economic Sociology of the Department of Sociology of the Faculty of Social Sciences at the National Research University Higher School of Economics, the relatively low growth in net profit may indicate an abrupt increase in business costs, including logistics.

Non-operating income of companies increased most of all – those associated with a positive exchange rate difference that appears on foreign exchange obligations when the ruble strengthens and on foreign currency deposits – against the background of weakening. According to the Federal Tax Service, non-operating income tripled to almost 900 trillion rubles. It is specified that the amount of income tax for all companies at the end of last year amounted to 5.6 trillion rubles.

On June 7, the government submitted to the State Duma a bill on excess profit tax. According to the initiative, the tax will be levied on the excess of the arithmetic average profit for 2021-2022. over the arithmetic mean of profit in 2018–2019. The rate is set at 10%, the tax must be paid no later than January 28, 2024. At the same time, if the fee is paid from October 1 to November 30, 2023, the business will receive a “discount” and the rate will be reduced by 2 times to 5%. According to the Federal Tax Service, the total profit of companies for 2021–2022 exceeded the same indicator for 2018-2019. one and a half times, or 21.7 trillion rubles.