They took a business for the throat: how Russia hopes to earn for a further war in Ukraine

It is assumed that the large business tax will bring about 300 billion rubles to the Russian budget. The State Duma of Russia supported the law on the introduction of a tax on profits. Due to this, the Kremlin's tax is to replenish earnings on local business, Forbes reports. It is known that the tax will affect organizations whose average profit from 2021 to 2022 exceeded 1 billion rubles. The tax rate will be 10% of the excess of profit. The tax must be paid by January 28, 2024.

At the same time, business enterprises that will pay by November 30 this year promise a discount of 50%. It is also noted that even before the law was adopted in the State Duma, a amendment was introduced into the document, within which companies whose investment increased faster than income in the period from 2021 to 2022, provides for privileges. Yes, they will be limited to the amount of the maximum tax in the amount of half the tax base of 2022.

This tax does not apply to small and medium -sized businesses, as well as organizations created after January 1, last year. It will also not be paid by oil, oil and coal companies, producers of liquefied natural gas (LNG) and agrarians that pay a single agricultural tax.

Also, the tax will be exempted: the Ministry of Finance of Russia considers that from the top 50 taxpayers on the survey, 20% will fall into enterprises engaged in the production of solid minerals, 19%-for producers of mineral fertilizers, 13%-for metallurgical complex, 12%-for wholesale and 9%. Collection of a survey tax will be forwarded to the Federal Budget of the Russian Federation.

Revenues are expected to help the aggressor country to continue the war against Ukraine, as the tax hopes to additionally raise about 300 billion rubles from Russian businesses. The shortage of the Federal Budget of Russia in January-June 2023 was 2. 59 trillion rubles. This is the data of the preliminary estimate of the budget of the Ministry of Finance of the Russian Federation. "The federal budget revenues in the first half of the year amounted to 12. 38 trillion rubles, which is 11.

7% lower than in the same period of 2022. In January-May, the revenues amounted to 9. 81 trillion rubles,"-the Ministry of Finance of the Russian Federation reads. At the same time, last year in Russia already had a record deficit of the federal budget. "For the whole of 2022, the Russian budget has drawn 3. 2 trillion deficit. To cover the break in the budget, the Russian authorities sell the assets of the Welfare Fund.