The Ministry of Finance approved the final version of the bill on excess profits tax

The recipients of the bill are the Ministry of Economic Development, the Ministry of Industry and Commerce, the Ministry of Agriculture, the Ministry of Health, the Ministry of Energy, the Federal Tax Service, the Chamber of Accounts, the Legislation Institute and Comparative Law under the government, the RSPP and Delovaya Rossiya.

The main provisions of the regulation of a single tariff:

• The fee must be paid no later than January 28, 2024. The law should enter into force on January 1, 2024. The amount must be calculated by the taxpayer.
• The tax will be one time only.
• Both Russian and foreign organizations with a permanent establishment in Russia are required to pay the fee. Exception: taxpayers whose arithmetic average profit for 2021-2022 amounted to less than a billion rubles.
• It is planned to exempt oil, gas and coal producing companies, oil refineries, liquefied natural gas producers with existing production and export, as well as all participants in the register of small and medium-sized companies from paying taxes.
• It is proposed to exclude from the tax base the gain that is associated with the execution of an investment project, which is part of an investment protection and promotion agreement.
• It is proposed to set the tax rate at 10% of the amount of excess earnings for 2021-2022. on the same indicator for 2018-2019. If the fee is paid from October 1 to November 30, 2023, the company will receive a “discount” and the fee will be reduced by 2 times to 5%.
• The “fall payment” is proposed to be issued as a tax deduction, in the form of a security deposit. Its size cannot exceed half the amount of the tax.

In February, the Ministry of Finance estimated the possible income from a single fee at 300 billion rubles.