The Federal Law amends the Tax Code of the Russian Federation to provide for the possibility of introducing one-time levies on the territory of the Russian Federation.
Under the Federal Law, legal relations arising in connection with collection of one-time taxes shall be regulated by Russian laws on taxes and fees, taking into account the specifics established by federal laws on such taxes.
The Federal Law adds an excess profit tax, which is a one-time tax, to the list of federal taxes and fees.
In addition, it provides that Russian companies, foreign companies operating in the Russian Federation through representative offices, and foreign companies recognised as tax residents of the Russian Federation have the right to transfer a security deposit towards the forthcoming payment of excess profit tax to the federal budget in the period from October 1 to November 30, 2023.