The Russian Union of Industrialists and Entrepreneurs (RSPP) plans to ask the government to amend the Tax Code of the Russian Federation. Forbes writes about this .
The business association proposes recognizing debts of foreign counterparties to Russian companies as hopeless if they cannot be collected due to sanctions.
“Many leading Russian companies in various industries are experiencing significant financial difficulties due to sanctions from unfriendly countries. Foreign organizations cannot repay their debts. A particular problem is the non-return of advances paid for imported goods,” says a letter signed by the head of the RSPP Alexander Shokhin to Prime Minister Mikhail Mishustin.
According to the current legislation, such debts are not considered bad. This does not allow companies to reduce their taxable base by their amount. At the same time, it is impossible to collect the debt through the court “until the end of the indefinite period of sanctions.”
The RSPP proposes to instruct the Ministry of Finance to make the appropriate changes to paragraph 2 of Article 266 of the Tax Code. This will allow businesses to write off debts “frozen” due to sanctions as expenses.
Experts note the relevance of the initiative, especially in light of the increase in the profit tax rate to 25% from 2025. In their opinion, clarifications from the Ministry of Finance or the Federal Tax Service on the procedure for applying the new rule would be useful if it is adopted.
Previously, Russian employers named the largest business costs in 2024.
Earlier, Russia wanted to introduce a tax on energy consumption for miners.