Deputy Finance Minister Sazanov: the decision on the tax on excess profits of companies has not yet been made

The Russian Ministry of Finance has not yet decided to use the windfall tax mechanism. This was reported to journalists at the Moscow Financial Forum by Deputy Finance Minister Alexei Sazanov.

Earlier, the Deputy Finance Minister said that all decisions related to state revenues will be discussed during the budget preparation in the autumn. “Autumn has just begun. We have not yet decided, Sazanov said (quoted by Interfax).

In April, Interfax reported that the authorities are working on the introduction of a tax on superprofits for 2025 at a rate of 20% from the excess of profit above the level of 2018-2019. A similar mechanism was already applied in 2023. Then the rate was 10%, the budget received 318.8 billion rubles. The tax was levied on companies whose average pre-tax profit for 2021-2022 exceeded 1 billion rubles.