Budget revenues from the tax on excess profits of mining and metallurgical companies are estimated at 200 billion rubles annually

Budget revenues from the excess income tax for mining and metallurgical companies are projected to amount to 200 billion rubles annually in 2027-2029, as follows from the explanatory note to the draft budget for the upcoming three-year period.

“The projected change in tax legislation provides for a tax on excess income for companies in certain segments of the mining and metals industry. The income forecast for 2027-2029, according to the financial and economic justification for the bill, is 200,000 million rubles annually,” the explanatory note says.

Earlier, the press service of the Ministry of Finance reported that the draft budget of the Russian Federation for 2027–2029 provides for additional adjustment of the taxation of natural rent: in the mining and metals sector, a tax of 30% of the additional income received as a result of the increase in world prices for solid minerals to the level of the base year 2024 is introduced for gold, 20% for gold.