Senators approved the law about the transfer of 90% of the profits of the Central Bank to the budget

Senators approved the law about the transfer of 90% of the profits of the Central Bank to the budget


The document establishes that the Bank of Russia upon approval by the Board of Directors of the annual financial statements of the Bank for the year 2015 must be transferred from actually received by the end of 2015 profits remaining after taxes and fees, 90% to the Federal budget.

MOSCOW, 25 Nov. The Federation Council on Wednesday approved the law on profit transfers of the Central Bank of the Russian Federation by the end of 2015.

The document establishes that the Bank of Russia upon approval by the Board of Directors of the annual financial statements of the Bank for the year 2015 lists from actually received by the end of 2015 profits remaining after taxes and fees, 90% to the Federal budget.

Currently, the figure is 75%.

In the conclusion of the accounts chamber of the Russian Federation on the draft Federal budget for 2016 it is noted that according to the revised Bank of Russia the information in the budget by the end of 2015 the Central Bank will transfer to 302 billion rubles (90%) instead of previously planned 336 billion rubles. According to the revised forecast of the Central Bank on 1 October 2015 its profit for the current year is estimated at 336 billion rubles instead of the previously forecast 373,596 billion.