Russia's Duma Committee Backs Windfall Tax on Corporate Super Profits

The State Duma Budget Committee recommended first-reading adoption of a bill imposing a one-time windfall tax on certain companies' excess profits. The measure targets firms with above-average 2021-2022 profits, with a 5% rate if paid promptly or 10% otherwise. This adds fiscal pressure on Russian corporates amid ongoing budget deficits, potentially affecting earnings and investment sentiment.

AI disclosure: Model-written summary of the source, not a verified fact. Check the sources. How Mosaic works