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Russian budget has received around $450 mln on windfall tax — finance minister

Russian President Vladimir Putin endorsed earlier the law imposing a 10-percent windfall tax on large companies

MOSCOW, November 20. /TASS/. Russia’s federal budget has already received around 40 bln rubles ($453 mln) out of the planned 300 bln rubles ($3.4 bln) on the windfall tax, Finance Minister Anton Siluanov said.

"Regarding the issue of windfall tax, we planned to raise around 300 bln rubles. Around 40 bln rubles of the amount that we planned, have been received by now. But the main payment period is November-December, so we expect the planned amount <…> to be received by the end of the year," he said addressing the Federation Council (upper house of the parliament).

Russian President Vladimir Putin endorsed earlier the law imposing a 10-percent windfall tax on large companies. The law is to take force on January 1, 2024. The tax must be paid no later than January 28, 2024, according to the document. It will be paid solely to the federal budget and will be a one-time fee, with around 300 bln rubles ($3.4 bln) worth of additional revenues expected.

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