The kremlin Is Increasing Tax Pressure on Businesses

russia is facing a deepening budget crisis: since the beginning of the year, oil and gas revenues have declined by 10 %, and in May – by 33 %. As a result, the state duma is developing new tax initiatives aimed at banks and the energy sector.

The government of the rf has already taken a series of tough fiscal steps: increasing taxes on mining, introducing a surplus profits tax and currency exchange duties. In 2025, the tax reform has been launched: an increase in income tax for businesses, a new personal income tax scale, and an increase in tariffs and excise duties, including on fuel, are expected.

The authorities have also increased by one third the plan to collect fines from individuals and businesses to fill the federal budget.

Despite this, the russian economy continues to weaken. The state duma has approved amendments to the federal budget for this year, which envisage increasing the budget deficit by more than three times compared to the level of last year. The energy sector is suffering from sanctions and export restrictions, and the banking system remains vulnerable. Further fiscal burden will only deepen structural problems.