MOSCOW, January 1. /TASS/. The income tax rate for the Russian oil pipeline operator Transneft will grow from 25% to 40% in 2025-2030.
Russian President Vladimir Putin signed the relevant law at the turn of November 2024. It is expected that 23% of the tax rate will go to the federal budget and 17% to regional budgets. The income tax increase for Transneft is related to its monopoly status and can provide the federal budget with revenues from 20 to 40 bln rubles ($200-400 mln) annually.
The company will abide by the decision of the principal shareholder but expects an involuntary cut of the investment program due to money shortage, Transneft said. The government now holds 100% voting shares in the company or 78.55% of its authorized capital.