Legislative Tracking in Focus

Windfall tax law: final edition

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.