More than a year after the invasion of Ukraine, Russian authorities are continuing plans for a special tax on companies due to financial problems at home. This should be a voluntary payment.
At the beginning of April, it must be determined exactly how much money must be raised in total and how much the compensation will be for individual companies, State Secretary of Finance Alexei Sasanov said on Wednesday. His authority had previously estimated the sum at about 300 billion rubles (equivalent to about 3.7 billion euros).
Excluding the oil and gas industry
The new regulation is expected to come into effect at the end of this year. Companies in the oil and gas industry should be exempt. Officially in Moscow it is always emphasized that it is a voluntary one-off payment.
Doubts about voluntariness
However, some observers have expressed doubts about this, and senior industry representatives have already expressed criticism. The non-state media repeatedly talks about a “war levy” with which the leadership in Moscow wants to partially close the gap in the state budget.
41 billion euro budget deficit
Despite high oil and gas revenues, the largest country in the world in terms of area had a budget deficit of 3.3 trillion rubles (about 41 billion euros) last year. Given the oil price cap that has now been introduced, there is a risk of significantly larger losses this year.
Source: Krone
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