Finance ministry pledges not to raise corporate profit tax in 2023

MOSCOW, Feb 8 (PRIME) -- The government is against the proposal of the Russian Union of Industrialists and Entrepreneurs to raise the corporate profit tax in 2023, it has no plans to change the taxation system this year, the Finance Ministry said in a statement on Wednesday.

“The Russian government does not support the proposal to raise the corporate profit tax, which the business union has put forward,” the statement read.

Only some branches and a handful of companies have received circumstantial additional income meaning the impact of the tax increase will be unequal for different sectors of the economy.

“In general, we plan no changes to the basic parameters of the taxation system, including the corporate profit tax, value-added tax, the personal income tax, property taxes, special regimes, and insurance payments this year. The Russian government is not working on initiatives like that,” the authority said.

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