16 Mar 2023 13:36

Russia's Finance Ministry still expects windfall tax to deliver around 300 bln rubles from additional profits in 2021-22

MOSCOW. March 16 (Interfax) - The expectations of Russia's Finance Ministry remain unchanged regarding the amount that should end up in the budget in the form of a one-time fee from additional business profits for 2021-2022 compared to 2018-2019, on which the final tax rate will depend.

Speaking at the convention of the Russian Union of Industrialists and Entrepreneurs (RSPP) on Thursday, Finance Minister Anton Siluanov said that revenues from the windfall tax could total around 300 billion rubles. Siluanov first announced this figure a month ago, when returns for profit tax were not yet ready for 2022.

Siluanov said that proposals on windfall tax would be formalized ASAP.