Russia has lost so much money due to the Ukraine war that it's now trying to raise 4 billion dollars
Published July 22, 2023, 9:40 a.m. by Violet Harris
Russia has lost so much money due to the Ukraine war that it's now trying to raise $4 billion by slapping a windfall tax on its oligarchs.
Since 2021, Russia will tax big firms with profits over 1 billion rubles.
A senior financial official told RBC TV the levy will raise $4 billion.
The Kremlin is so strapped by its Ukraine war that it's slapping a one-time windfall tax on wealthy Russian enterprises and their oligarch owners.
In an interview with RBC TV, Andrei Belousov, the first deputy prime minister, said this fee may raise 300 billion rubles, or $3.6 billion, in taxes, Interfax reported.
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