ST. PETERSBURG, September 25. /TASS/. Sovcomflot will pay windfall tax by the end of this year, Chief Executive Officer Igor Tonkovidov said in an interview with TASS.

"Sovcomflot will duly comply with the law and pay the tax by the year-end. We are not disclosing the amount of the payment for now," he said.

Russian President Vladimir Putin had earlier signed the law imposing a 10-percent windfall tax on large companies. The law is to take effect on January 1, 2024, with the tax due by January 28, 2024, according to the document. Relevant tax revenues will go exclusively to the federal budget and the tax will represent a one-time levy, which is expected to bring in around 300 bln rubles ($3.4 bln) in additional revenue.