LNG exporters to pay profit tax at rate of 32-34% - MinFin

MOSCOW. Oct 12 (Interfax) - The increased profit tax rate for LNG producers from 2023 will be 32-34%, State Secretary and Deputy Finance Minister Alexei Sazanov told reporters on the sidelines of Russian Energy Week-2022.

"There will be an increased income tax rate, from 32% to 34%," Sazanov said.

The figure of 32% for 2023-2025 appeared in amendments to the Tax Code, submitted by the government to the State Duma in late September as part of the "budget package." In this case, 15 percentage points of the tax go to the federal budget and 17 p.p. to the budget of the constituent region. At a rate of 32%, the Finance Ministry estimated additional federal budget revenues from the profit tax on organizations producing LNG at 200 billion rubles in 2023.

The current profit tax rate is 20%, of which 3 p.p. is credited to the federal budget.