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EXCESS PROFIT TAX : EXPECTATION AND REALITY

... potential effect of the future law, since it has not even passed the procedure of reading 1 yet, that is, certain adjustments may still take place during the procedure of its consideration. However, the general concept is that there should be a tax on excess profits, and other extraordinary taxes may follow (the above–mentioned projected norm of the Tax Code of the Russian Federation allows you to introduce "taxes", not "tax"). Photo by Freepik

IMF PROPOSED TO INTRODUCE A TAX ON PANDEMIC WINNERS AND PROFITABLE COMPANIES

... pandemic. It is assumed that this will not only provide additional income, but also improve the situation with social inequality. The IMF published a statement in its April Fiscal Monitor. The organization proposes to introduce a temporary tax on excess profits for companies that prospered during the pandemic - this could be an additional charge or a replacement for existing corporate taxes. The International Monetary Fund believes the companies will contribute to the improvement of the economy by these means. The organization noted that such an innovation should be temporary. For example, as in Germany in 1991 or in Japan in 2013,...

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