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Official website of the President of Russia

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Law to improve legislation on taxes and duties to create additional revenue streams for funding state spending obligations

November 27, 2023

The President signed Federal Law On Amendments to Parts 1 and 2 of the Russian Federation Tax Code, Certain Legislative Acts of the Russian Federation, and Repealing Certain Provisions of the Russian Federation Legislative Acts.

The Federal Law is designed to improve Russian legislation governing taxes and duties as applicable to levying excise duties, corporate profit tax, mineral production tax, and collecting state duties with a view to creating additional revenue streams for funding state spending obligations.

In particular, the Federal Law sets higher fines for violating certain provisions of the Russian Federation Tax Code, including for failing to submit documents for an international group of companies.

The Federal Law provides for zero or lower corporate profit tax for certain types of revenue earned by foreign entities located abroad and which used to benefit from zero or lower corporate profit tax as per the international tax treaties of the Russian Federation, which were suspended under the Executive Order of the President of the Russian Federation No 585 of August 8, 2023, On Suspension by the Russian Federation of Certain Provisions of International Tax Treaties of the Russian Federation.

November 27, 2023