28.06.2023, 19:17
The State Duma approved in the first reading the tax on excess profits of large businesses
Source: OREANDA-NEWS
OREANDA-NEWS The State Duma adopted in the first reading a draft law on the windfall tax on excess profits of large companies. The tax will be paid by companies whose average pre-tax profit for 2021-2022 exceeded 1 billion rubles.
The payment will amount to 10% of the amount of excess profit for 2021-2022 over the indicator for 2018-2019. If the tax is paid before November 30, 2023, the rate is reduced to 5%.
Deputy Finance Minister Alexey Sazanov said at the plenary session of the State Duma that 20% of the tax on excess profits will fall on the extraction of solid minerals, 19% — on fertilizer producers, 13% — on metallurgists, 12% — on trade, 9% — on banks. According to him, there will be about 2.5 thousand taxpayers in total, that is, less than 3% of the total number of organizations.
However, the bill provides for a number of exceptions. The tax will not be levied on companies with a profit of less than 1 billion rubles; companies established after 2020; small and medium-sized businesses; organizations paying the unified agricultural tax; companies in the oil and gas sector and coal mining.
The government predicts that with the help of this collection, the federal budget will receive an additional 300 billion rubles. As Finance Minister Anton Siluanov said, the funds will be used for social needs.
The payment will amount to 10% of the amount of excess profit for 2021-2022 over the indicator for 2018-2019. If the tax is paid before November 30, 2023, the rate is reduced to 5%.
Deputy Finance Minister Alexey Sazanov said at the plenary session of the State Duma that 20% of the tax on excess profits will fall on the extraction of solid minerals, 19% — on fertilizer producers, 13% — on metallurgists, 12% — on trade, 9% — on banks. According to him, there will be about 2.5 thousand taxpayers in total, that is, less than 3% of the total number of organizations.
However, the bill provides for a number of exceptions. The tax will not be levied on companies with a profit of less than 1 billion rubles; companies established after 2020; small and medium-sized businesses; organizations paying the unified agricultural tax; companies in the oil and gas sector and coal mining.
The government predicts that with the help of this collection, the federal budget will receive an additional 300 billion rubles. As Finance Minister Anton Siluanov said, the funds will be used for social needs.
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