The Federal Tax Service has collected a record amount from bankrupts

Budget revenues from bankruptcy proceedings increased by 26% in 2024 compared to 2023. They reached 252 billion rubles, according to the report "Results of the activities of the Federal Tax Service," which was reviewed by Izvestia. This is a record since at least 2015 (the tax service does not provide earlier statistics).

In the final calculation: Russians were written off five times more debts without trial

Why did the number of insolvent citizens increase dramatically in 2024 and are there any risks here?

The Federal Tax Service told Izvestia that the increase in budget revenues from bankruptcies is due to an increase in revenues from conciliation proceedings (that is, under settlement agreements with debtors) by 43%, to 42 billion rubles.

But there are other reasons. Thus, the number of corporate bankruptcies in Russia soared by a quarter in the three quarters of 2024, said lawyer Alexander Khaminsky, referring to data from Fedresurs. At the same time, the tax authorities began to initiate insolvency proceedings more often, he added.

Maxim Barashev, managing partner of BBNP and a member of the Moscow Business Russia, believes that the increase in revenue may also be related to the departure of foreign companies from the Russian Federation. Among them, for example, the Russian subsidiaries of Google, Oracle and General Motors.

Many domestic companies are also unable to cope with loan repayments. For example, in 2024, the Moscow Arbitration Court declared Ralph Ringer bankrupt for debts over 20.7 million rubles.

According to the Center for Macroeconomic Analysis and Short-term Forecasting (CIACP), companies with debt servicing problems account for 30% of the market, compared with 12% in 2023.

Read more in the exclusive Izvestia article:

We are going to collect: the Federal Tax Service has collected a record amount from bankrupts