The Ministry of Finance did not support the introduction of a tax on excess profits for certain industries

The Ministry of Finance is not considering the introduction of a tax on excess profits for certain industries. This was announced on March 27 by State Secretary, Deputy Finance Minister Alexei Sazanov.

"So far, the tax reports have only been submitted for 2025 this week. We need to look at the numbers. So far we have not seen them, there are no discussions," TASS quoted Sazanov as saying.

Division rules: in Russia they want to introduce a tax on excess profits of banks

Deputies intend to replenish the budget by 200 billion rubles

On February 27, the State Duma introduced a bill on the introduction of a tax on excess profits for the banking sector in Russia. It was clarified that as part of the measure, it is proposed to introduce a one-time tax on additional profits earned by banks in the period from 2025 to 2026.

Andrei Barkhota, an expert on the financial market and an economist, reported in December last year that a new law on an increased tax on banks' excess profits was unlikely to be adopted in Russia. According to him, in the event of a deterioration in the industry situation, banks will begin to accumulate significant loan reserves, which may lead to the full use of accumulated capital, and in a few months banks may not have increased income.

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