THEY WANT TO FIX THE EXCESS PROFIT TAX IN THE TAX CODE OF THE RUSSIAN FEDERATION

Currently, a draft law on amendments to Part 1 of the Tax Code of the Russian Federation is being prepared, according to which it is proposed to fix the provisions regulating the emergency tax in the code. This was reported to Rusbankrot by a source.

It is proposed to consolidate the possibility that emergency taxes may be introduced by separate federal laws.

In addition, the Tax Code proposes to reflect the concept of "tax on excess profits of previous years."

Together with the amendments to the code, it is proposed to adopt a federal law on the tax on excess profits of previous years, according to which a one-time tax on excess profits of previous years is established and introduced, which is an extraordinary tax.

As follows from the initiative, the payers of such a tax will be Russian and foreign organizations operating in the Russian Federation through permanent missions. And the tax base is the monetary expression of the excess profits of previous years, which is defined as the excess of the arithmetic mean of profit for 2021 and profit for 2022 over the arithmetic mean of profit for 2018 and 2019.

The draft also contains a number of exceptions when persons will not be classified as payers of such a tax. These include, in particular, oil refining companies.

The draft describes in detail the process of determining the tax base and sets a tax rate of 10%.

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