View settings

Font size:
Site colours:


Official website of the President of Russia

Документ   /

Law on one-time excess profit tax for organisations with average profit in 2021–2022 over one billion rubles

August 4, 2023

Vladimir Putin signed Federal Law On the Excess Profit Tax.

The Federal Law introduces a one-time excess profit tax.

The object of taxation isthe excess profit generated by a taxpayer and defined as the excess of average profits generated in 2021 and 2022 over the average profits generated in 2018 and 2019.

Under the Federal Law, this tax shall be paid by Russian companies, foreign companies operating in the Russian Federation through their representative offices, and foreign companies recognised as tax residents of the Russian Federation. The Federal Law also determines the companies not subject to payment of this tax.

The Federal Law establishes the procedure for determining the tax base for the excess profit tax and sets a tax rate of 10 percent.

According to the Federal Law, the excess profit tax shall be payable no later than January 28, 2024, and shall be paid to the federal budget.

August 4, 2023