In October 2023, Norilsk Nickel paid the excess profit tax (windfall tax) in the amount of 8.2 billion rubles ahead of schedule.
“In 2023, Norilsk Nickel exercised the right to early payment of an additional tax levy (the so-called windfall tax), paying 8.2 billion rubles in October,” the company said in a statement, as cited by TASS.
Previously, a company representative told TASS that Norilsk Nickel made a security payment for the windfall tax; the company took advantage of the opportunity to reduce the tax amount to an effective rate of 5% by transferring the security payment ahead of schedule.
In the summer of 2023, Norilsk Nickel's press service stated that the company could pay an excess profit tax of about $94 million (8.145 billion rubles) subject to payment of a security deposit.
A one-time windfall tax is paid by large companies whose average profit for 2021 and 2022 exceeded 1 billion rubles.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
