24.09.2026, 14:53
Shares of Russian companies fell after the announcement of the tax on excess income
Source: OREANDA-NEWS
OREANDA-NEWS Against the background of the publication of the budget package for 2027-2029 submitted to the government by the Ministry of Finance, shares of a number of Russian companies have noticeably fallen in price. This is evidenced by the data of the Moscow Stock Exchange.
The pressure is being felt by paper producers of non-ferrous metals and fertilizers, as well as gold miners, for whom the financial department has proposed to introduce a tax on excess income.
"Norilsk Nickel" shares are losing more than 6 percent as of 13:50 Moscow time, " "PhosAgro" shares — more than 3 percent, ""Buryatzoloto" shares - 3.5 percent, and "Seligdar" shares — more than 1 percent, although at the maximum the decline reached 4.5 percent.
The Ministry of Finance explained that the introduction of the tax will strengthen the income of all levels of the country's budget system.
The tax rate for individual mining companies in the mining and metallurgical sector was 30 percent (20 percent for gold), while the amount of fees for the rest was not announced.
Earlier this week, Deputy Finance Minister Alexei Sazanov said that the government has not yet decided on the issue of reusing the windfall tax mechanism, the so-called windfall tax. Discussions on the return of the tax on excess profits in the public space started in March.
In the same bill, the Ministry of Finance initiated the introduction of a value-added tax (VAT) for cross-border online commerce immediately at a maximum of 22 percent.
The pressure is being felt by paper producers of non-ferrous metals and fertilizers, as well as gold miners, for whom the financial department has proposed to introduce a tax on excess income.
"Norilsk Nickel" shares are losing more than 6 percent as of 13:50 Moscow time, " "PhosAgro" shares — more than 3 percent, ""Buryatzoloto" shares - 3.5 percent, and "Seligdar" shares — more than 1 percent, although at the maximum the decline reached 4.5 percent.
The Ministry of Finance explained that the introduction of the tax will strengthen the income of all levels of the country's budget system.
The tax rate for individual mining companies in the mining and metallurgical sector was 30 percent (20 percent for gold), while the amount of fees for the rest was not announced.
Earlier this week, Deputy Finance Minister Alexei Sazanov said that the government has not yet decided on the issue of reusing the windfall tax mechanism, the so-called windfall tax. Discussions on the return of the tax on excess profits in the public space started in March.
In the same bill, the Ministry of Finance initiated the introduction of a value-added tax (VAT) for cross-border online commerce immediately at a maximum of 22 percent.
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