Sилуanov Says Compromise Reached with Business on Superprofits Tax

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Compromise solutions have been found with mining and metallurgy companies regarding the introduction of a windfall profits tax, smoothing out the effects of sharp price fluctuations, according to Russian Finance Minister Anton Siluanov, as reported by Interfax.

"We did a great job, met with businesses, and found a compromise on the windfall profits tax. This tax was their biggest concern. We made sure that those who experience spikes (i.e., a large potential payment for one calendar year - IF) would have these spikes smoothed out," Siluanov emphasized.

• Earlier, the Ministry of Finance submitted amendments to the Tax Code to the State Duma, which propose a windfall profits tax of up to 30% for companies in the mining and metallurgy sector. The tax would apply to additional profits made by companies in 2026 due to an increase in global prices for solid minerals compared to the baseline level of 2025.