The “voluntary” contribution to the budget, whose discussion was announced today in the government, can only be applied to companies that have received excess profits, explained the Ministry of Finance. This contribution is expected to be used to cover the budget deficit.

The “voluntary” contribution to the budget will affect only companies that have received excess profits – Ministry of Finance

The Ministry of Finance explained who will be affected by the single “voluntary” contribution, which was discussed today in the government. The amount of the contribution may amount to 200-250 billion rubles, according to sources in The Bell, a publication recognized by a foreign agent.

The department explained that the contribution, if introduced, will be taken only from companies that have received excess profits in recent years. The purpose of such a contribution is called partial coverage of the federal budget deficit.

Earlier, the Union of Industrialists and Businessmen proposed raising the income tax rate by 0.5% to compensate for the deficit, but the Finance Ministry did not support this idea.

On the news about the possible introduction of a contribution, Russian stock indices fell. The Moscow Stock Exchange index fell 0.4%, the RTS index fell 1.8%.


Kirill Bilyk

Source: RB

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