Russia May Introduce Tax On Digital Companies In 2022-2023 - Finance Ministry

A tax on global digital companies may be introduced in Russia in 2022-2023, its design will depend on the decision of the Organisation for Economic Co-operation and Development (OECD), Russian Deputy Finance Minister Alexey Sazanov said

MOSCOW (UrduPoint News / Sputnik - 13th April, 2021) A tax on global digital companies may be introduced in Russia in 2022-2023, its design will depend on the decision of the Organisation for Economic Co-operation and Development (OECD), Russian Deputy Finance Minister Alexey Sazanov said.

He noted that now the issue of a supranational digital tax was being discussed at the OECD platform.

"In July, they should come out with a final proposal on the construction of a supranational digital tax. And accordingly, they should say whether there is an agreed position on the introduction of this instrument. At this stage, we are waiting for a decision at the OECD site," Sazanov said.

According to him, Russia has two further options either to join the decision of the OECD, or to go its own way, if a consensus is not reached.

"We are now working on the issue of digital tax, but in any case, in order to understand which way we are going, we need to understand how the world will move, we do not have to go against it, if there is a global trend," the deputy minister noted.

Answering when the digital tax could be introduced, Sazanov said: "From 2022-2023, depending on what will be announced in July."