Ministry to Discuss Windfall Tax Proposals with Business

Sazanov: The Ministry of Finance will discuss business proposals from the RSPP regarding the tax on excess income.

Consensus

The Russian Ministry of Finance will hold a meeting with the Russian Union of Industrialists and Entrepreneurers (RSPP) to discuss business proposals on the windfall tax.
The Ministry of Finance has already included revenue from the windfall tax in the budget.
The meeting with RSPP is intended to hear business proposals, but it is premature to discuss outcomes.
The State Audit Chamber of Russia has recommended increasing the windfall tax on gold mining companies.
The Chairman of the State Duma, Vyacheslav Volodin, stated that the Duma supports the State Audit Chamber's proposal to increase gold mining taxes.

Alexey Sazanov stated that there will be no separate meetings with individual industries at this stage. — vedomosti
Vyacheslav Volodin mentioned that the Duma is considering expanding the list of goods not eligible for the 10% VAT rate to include oysters and similar delicacies. — interfax
Alexander Shokhin, head of RSPP, proposed temporarily increasing the profit tax for all companies by 0.5–1 percentage points instead of introducing a windfall tax only for the mining and metallurgy sector. — vedomosti
Anton Siluanov, Minister of Finance, said the windfall tax bill is a compromise with large business and that the Ministry is offering various mitigations, emphasizing that the tax should be on earned income, not advance payments. — vedomosti