Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 20.10.2009

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-11-06/2/206 of October 8, 2009

According to the Tax Code of the Russian Federation, the taxpayer looses the right to use the simplified system of taxation if at the end of the reporting (tax) period his incomes are greater than Rbl 20 million. Beginning with 2010, this amount is increased to Rbl 60 million.

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