Russia tries to patch budget with fines - intel
According to Ukrinform, this was reported by the Foreign Intelligence Service of Ukraine.
Formally, the initiative is designed to increase the effectiveness of punishment, but the real goal is obvious – to replenish the depleted budget.
The changes cover 36 types of economic crimes. The size of fines will increase several times. For illegal entrepreneurship, they propose to impose fines of up to USD 18,500 (previously $4,000), and in cases of “particularly large” losses, up to USD 31,000 (compared to $6,000). The fine for intentional bankruptcy will reach USD 25,000 (instead of $6,000), for tax evasion – from USD 6,000 to $18,500, and for significant losses – up to USD 61,500.
In addition, there are plans to revise the criteria for “large” and “especially large” losses, which will allow for a broader interpretation of the crime and, accordingly, more frequent application of maximum sanctions.
The initiative is part of a broader trend – the Kremlin is increasingly seeking non-fiscal sources of revenue. Tax increases (in particular, VAT to 22%) and the introduction of new fees are already putting pressure on business, and now the state is trying to monetize the punitive system as well.
“As a result, the risks for investors and entrepreneurs in sectors with high administrative oversight – construction, transport, finance – are only increasing. Moscow is trying to patch up the budget deficit where it is easier to collect – from those who are still working,” the intelligence report noted.
As reported by Ukrinform, in September, Russian companies paid a record 39% of their profits in interest on loans. Due to the war in Ukraine, the stagnation of the Russian economy will only intensify.
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