We have been keeping an eye on the new tax initiative since this February, when the Ministry of Finance first announced its plans to withdraw a part of big businesses’ windfall profits generated thanks to the favourable market conditions.
The initiative has evolved since then: from a voluntary contribution and an increased income tax rate to a lump-sum mandatory tax payment.
On 4 August 2023, the law was signed by the Russian President.
We have already scrutinized the first reading version of the bill.
Now we present an overview of the final edition.
The initiative has evolved since then: from a voluntary contribution and an increased income tax rate to a lump-sum mandatory tax payment.
On 4 August 2023, the law was signed by the Russian President.
We have already scrutinized the first reading version of the bill.
Now we present an overview of the final edition.