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State Duma approves bill on corporate tax increase

The document provides for the increase of the corporate income tax from 20% to 25%

MOSCOW, July 9. /TASS/. The State Duma, the lower house of the Russian parliament, approved in the second reading amendments to the Russian Internal Revenue Code.

In particular, the document provides for the increase of the corporate income tax from 20% to 25%. "It is proposed in conditions of the sanctions pressure on the national economy and for purposes of ensuring the fair fiscal burden to increase the general fiscal rate of the corporate income tax to 25%, keeping the effective preferential mechanisms," accompanying papers to the document indicate.

The tax rate for IT companies will be set at the same time at the level of 5% in 2025-2030.

The State Duma also approved indexation of excises on alcoholic drinks for the next three years.

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State Duma Taxation Russia's domestic policy

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