Deductions from the tax base
The following components are deducted from the profits tax base:
Accounting for prior year losses
- Profits of controlled foreign companies (CFCs)
- Profits of parties to federal special investment contracts (SPIC) paid to the federal budget
- Profits of parties to agreements on protection and promotion of capital investments generated from investment projects
- Dividends received
- Certain income of international holding companies (IHC)
- Certain debt liabilities
- Gains on disposal of interests in/shares of subsidiaries
- Profits of the CBR received as a result of acting in accordance with the Federal Law "On the Central Bank of the Russian Federation (the Bank of Russia)"
The tax base includes prior year losses.Amended tax returns and additional accruals resulting from tax audits
Amended profits tax returns and additional accruals resulting from profits tax audits are taken into account for tax base calculation purposes.Reorganizations
Specific procedures are established to calculate the profits tax base for companies formed through reorganizations in 2018−22.Tax calculation
Payment procedure and due dates
- The windfall tax rate is set at 10%, and the tax amount is payable to the federal budget.
- A company is entitled to provide a tax-related security deposit during the period from 1 October through 30 November 2023. The amount of the security deposit is considered to be the amount of tax from the date of tax payment.
- A taxpayer is entitled to reduce the amount of tax by applying a tax deduction, which is assumed equal to the amount of the security deposit. The amount of the tax deduction cannot exceed ½ of the amount of calculated tax. The tax deduction is assumed equal to zero if the security deposit is returned (in full or in part) upon the payer’s application.
- The tax and the security deposit are not recorded in profits tax expenses.
- From 1 October 2023 through 30 November 2023 — provision of the security deposit (optional)
- Until 25 January 2024 — submission of a windfall tax return (the tax return is not required if tax amounts to zero). The form of the profits tax return has not been published yet.
- Until 28 January 2024 — tax payment