According to Newsweek, citing data from the B4Ukraine group and the Kyiv School of Economics (KSE), in 2023, the total amount of income tax paid by American companies amounted to $1.2 billion.
In 2021, before the war in Ukraine, the amount of taxes from American businesses in Russia was $915.7 million. Revenue was higher - $50 billion versus $30.5 billion in 2023. According to the results of 2023, the United States became the largest foreign taxpayer to the Russian budget.
The top ten largest American companies paying taxes to the Russian budget include: Philip Morris - $220 million; PepsiCo - $135 million; Mars - $99 million; Procter & Gamble - $67 million; Mondelez - $62 million; Citigroup - $53 million; Cargill - $50 million; Johnson & Johnson - $42 million; Coca-Cola Hellenic — $34 million; Weatherford — $32 million.
Former US Ambassador to Russia and Stanford University professor Michael McFaul, in a commentary for Newsweek, called the actions of companies continuing to operate in Russia immoral.
“It is absolutely disgraceful that American companies have decided to stay in Russia and subsidize Putin’s barbaric war in Ukraine. I hope the shareholders of these companies will think about the appropriateness and morality of [indirectly] financing the murder of civilians. It is not too late to do the right thing,” McFaul said.
German companies came in second in terms of tax payments, having transferred $693 million to the Russian budget. Austria came in third with tax deductions of $579 million.
Newsweek recalled that foreign companies intending to leave the Russian market face tough conditions set by the Russian authorities. Among them are a 15 percent “exit tax” and a mandatory 50% discount when selling assets. As the publication notes, for the period from January to March 2024 alone, the “exit tax” brought Russia $385 million.
In 2021, before the war in Ukraine, the amount of taxes from American businesses in Russia was $915.7 million. Revenue was higher - $50 billion versus $30.5 billion in 2023. According to the results of 2023, the United States became the largest foreign taxpayer to the Russian budget.
The top ten largest American companies paying taxes to the Russian budget include: Philip Morris - $220 million; PepsiCo - $135 million; Mars - $99 million; Procter & Gamble - $67 million; Mondelez - $62 million; Citigroup - $53 million; Cargill - $50 million; Johnson & Johnson - $42 million; Coca-Cola Hellenic — $34 million; Weatherford — $32 million.
Former US Ambassador to Russia and Stanford University professor Michael McFaul, in a commentary for Newsweek, called the actions of companies continuing to operate in Russia immoral.
“It is absolutely disgraceful that American companies have decided to stay in Russia and subsidize Putin’s barbaric war in Ukraine. I hope the shareholders of these companies will think about the appropriateness and morality of [indirectly] financing the murder of civilians. It is not too late to do the right thing,” McFaul said.
German companies came in second in terms of tax payments, having transferred $693 million to the Russian budget. Austria came in third with tax deductions of $579 million.
Newsweek recalled that foreign companies intending to leave the Russian market face tough conditions set by the Russian authorities. Among them are a 15 percent “exit tax” and a mandatory 50% discount when selling assets. As the publication notes, for the period from January to March 2024 alone, the “exit tax” brought Russia $385 million.
