The State Duma will consider a law on the introduction of a tax on excess profits for banks

On February 27, deputies of the State Duma (State Duma) will submit for consideration a bill on the introduction of a tax on excess profits for the banking sector in Russia.

According to the draft law, the text of which was reviewed by RIA Novosti, 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.

It clarifies that excess profit will be defined as the difference between the arithmetic mean of profit for 2025 and 2026 and the arithmetic mean of profit for 2023 and 2024.

As part of the bill, the tax rate will be set at 10% without the possibility of receiving a discount upon early payment.

The State Duma also proposed to consider raising the income tax rate for banks from 25% to 30%. They stressed that such a measure would allow the state to attract additional funds to help pensioners, large families, low-income citizens, as well as to develop healthcare, education and support the real sector of the economy.

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

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, if the industry situation worsens, 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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