Russian treasury's revenues from foreign firms to surpass forecast 2.5-fold
Foreign investors actively leaving the Russian market may be behind such an adjustment, Finam Strategy Director Yaroslav Kabakov believes.
The federal treasury will receive a total of 77.1 bln rubles ($862 mln) from income tax on foreign companies having no permanent establishment in Russia in 2024, Izvestia wrote citing amendments to the budget made in June.
This is 164% higher than suggested by the forecast, 29.2 bln rubles ($325 mln), the paper added.
Foreign investors actively leaving the Russian market may be behind such an adjustment, Finam Strategy Director Yaroslav Kabakov believes. Sale of assets leads to growth of tax receipts, he told the publication.
Suspension of agreements on avoidance of double taxation with unfriendly countries may be another factor behind growth of tax revenues from foreign companies, Chief Research Scientist at the Laboratory for Tax Policy Research of the Presidential Academy Viktor Machekhin said.
Income from dividends and interest on state and municipal securities are not taken into account in the budget forecast, the paper noted.
Source
The federal treasury will receive a total of 77.1 bln rubles ($862 mln) from income tax on foreign companies having no permanent establishment in Russia in 2024, Izvestia wrote citing amendments to the budget made in June.
This is 164% higher than suggested by the forecast, 29.2 bln rubles ($325 mln), the paper added.
Foreign investors actively leaving the Russian market may be behind such an adjustment, Finam Strategy Director Yaroslav Kabakov believes. Sale of assets leads to growth of tax receipts, he told the publication.
Suspension of agreements on avoidance of double taxation with unfriendly countries may be another factor behind growth of tax revenues from foreign companies, Chief Research Scientist at the Laboratory for Tax Policy Research of the Presidential Academy Viktor Machekhin said.
Income from dividends and interest on state and municipal securities are not taken into account in the budget forecast, the paper noted.
Source