Industry wants to withdraw 0.5 trillion rubles of excess profits

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Vladimir Putin approved the idea of ​​raising the tax rate for enterprises of the petrochemical, mining and metallurgical and chemical industries. Andrey Belousov’s proposal provides for the withdrawal of 513.7 billion rubles from companies with a high level of profitability, informs «Kommersant». 

The government has not yet agreed on the initiative, but by August 17, the Ministry of Finance, the Ministry of Industry and Trade, the Ministry of Energy, the Ministry of Economy and the Ministry of Natural Resources should prepare a report for the president. Is planned «equalize» business profitability to the level of the oil and gas industry, without reducing investment potential. So far, there are no ready-made fiscal mechanisms for this, so the government will consider the issue of their development and expediency..

Industry wants to withdraw 0.5 trillion rubles of excess profits

Company representatives say the calculations need to be re-evaluated and raise many questions. In their opinion, it is necessary to exclude foreign income from the formula, since there is a different taxation and profit, not revenue, should be taken as the base. Adding that one should take into account personal income tax, insurance and non-tax payments, investment costs, cyclicality, current debt and solvency. They also note that such a mechanism provides for the promotion of low profitability, which will lead to a slowdown in the pace of development and a decrease in the competitiveness of the Russian Federation..

Analysts do not deny that the listed industries enjoy preferences and pay more than 10% of dividends. However, there are many other ways to replenish the budget at their expense, and the focus on profitability «Rosneft» is a last resort that will scare away investors. Also, the deterioration of the future state of the main industrial sectors will lead to a slowdown in GDP growth and related industries such as engineering. The government has not yet announced the need for additional funds, and previously such proposals were rejected..

It is not only the industry that records high performance results. In July, Russian banks marked record rates of consumer lending.

How to withdraw money from Trading 212?

text: Ivan Malichenko, photo: group «Mechel»

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