According to calculations by the Russian Ministry of Finance, all large companies will pay the excess profits tax this year, Forbes found. Thus, according to the department’s forecasts, all companies that must make a contribution will do so at a preferential rate of 5% instead of 10%.
Thanks to advance payments, the State will be able to replenish the budget with additional revenues in the current tax period.
From the explanatory note to the law on the federal budget for 2024, to which the publication refers, it appears that the Ministry of Finance expects that extraordinary tax revenues in 2024 will be zero. That is, organizations that are required to make a contribution will pay it before the end of the year.
In early August, Vladimir Putin signed a law on excessive profits tax for companies. These are organizations that in 2021-2022 made an average profit of more than one billion rubles. According to the law, the payment must be made before January 28, 2024, in which case the tax will be 10% of the excess profit. If you pay early, before November 30 of the current year, the rate is reduced to 5%.
The total amount of revenue from this tax is expected to amount to 300 billion rubles, the Ministry of Finance predicts.
Previously, Sberbank calculated the costs of tax on windfall profits; The contribution will be about 3 billion rubles, provided that the organization makes the payment in 2023.
Several other companies are also preparing to pay the tax. For the Cherkizovo group it will be 400 million rubles, Qiwi can pay about half a million, Headhunter estimated the costs at 268 million rubles.
Author:
Natalia Gormaleva
Source: RB
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