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Russia eyeing one-off budget contribution of around $3 billion for business - three sources

UKRAINE-CRISIS-RUSSIA-TAXES-BUDGET:Russia eyeing one-off budget contribution of around $3 billion for business - three sources
UKRAINE-CRISIS-RUSSIA-TAXES-BUDGET:Russia eyeing one-off budget contribution of around $3 billion for business - three sources Copyright Thomson Reuters 2023
Copyright Thomson Reuters 2023
By Reuters
Published on Updated
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MOSCOW - Russian authorities are discussing a one-off budget contribution from businesses this year of about 200-250 billion roubles ($2.8-$3.5 billion), three sources familiar with the discussions told Reuters, as Moscow seeks to rein in its widening budget deficit.

First Deputy Prime Minister Andrei Belousov on Wednesday said Russia was looking at introducing a voluntary windfall tax on big business.

Despite the voluntary nature of the contribution, it is unlikely that any companies would be prepared to refuse, one source said.

It could also pose additional sanctions risks for companies that take part, the source added, as Western officials could interpret the move as a voluntary decision to financially support the Russian state.

($1 = 71.9885 roubles)

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