The Russian State Duma is reviewing a draft law that would impose a windfall tax on banks and major energy companies, including those involved in hydrocarbon extraction, petroleum refining, and the production and export of liquefied natural gas (LNG).
The proposal, submitted on 25 April 2025 by Sergey Mironov, leader of the “A Just Russia – For Truth” party, calls for a 10% tax on excess profits earned by organisations in 2024 and 2025. The tax would be a one-time payment due by 1 April 2026, with proceeds directed to the federal budget.
According to the party’s press service, the measure targets banks and large enterprises, both domestic and foreign, operating in Russia through permanent establishments or as members of consolidated taxpayer groups.
The explanatory note outlines that likely taxpayers include banks, coal and oil producers, hydrocarbon firms, and LNG exporters. However, exemptions would apply to small and medium-sized enterprises, property developers in shared construction projects funded by citizens, and organisations paying the unified agricultural tax since 2021.
The tax is intended to generate additional funding for key national priorities such as healthcare, education, social support, infrastructure, and agriculture.
