US companies paid more taxes in Russia last year than firms from any other foreign country, data from a joint study by B4Ukraine and the Kiev School of Economics (KSE) published earlier this week shows.

According to the findings, companies registered in America paid $712 million in taxes to the Russian budget in 2022.

Data also shows that 44% of US firms that had a presence in Russia at the start of Moscow’s military operation in Ukraine have so far continued to work in the country.

The second-largest tax contribution was made by German companies, at $402 million. Swiss companies came in third, with $275 million, followed by Japan and Great Britain.

Businesses headquartered in the G7 and the EU were the largest taxpayers in Russia and made up 16 of its top 20 contributors, data shows.

Overall, according to the study, foreign corporations, including those that left Russia since last February, made more than $213.9 billion in revenue through their Russian businesses in 2022, including $14.1 billion in profits.

They paid a total of $3.5 billion in taxes to the Russian budget.

The study found that companies that received the largest amount of revenue from their businesses in Russia were alcohol and tobacco producers, consumer goods manufacturers and car makers.

Many global firms have been forced to reevaluate their presence in the Russian market under pressure from Ukraine-related Western sanctions over the past year.

However, according to the most recent data from KSE, only 254 have so far finalized their exits from Russia – roughly 8% out of around 3,000 foreign companies that operated in the country prior to February 2022.

Around 56% of those still working in Russia have not announced plans to divest. Finland was one of the few nations whose companies completely left the Russian market after the start of Moscow’s military operation in Ukraine last year.

RT. com / ABC Flash Point News 2023.

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09-07-23 15:08

Russians die in the tens of thousands EVERY single year due to lung cancer and alcoholism combined. To add to this, government allows this by accepting imports of AMERICAN booze and tobacco products. Pretty F’d up…but, money talks.😵‍💫

Charito Hernandez
Charito Hernandez
09-07-23 15:11

Ukraine want western companies operating in Russia to not pay taxes. They can do that and surely Russia will shutdown those companies, freeze the company bank accounts and sell the assets. The sale will be more profitable than the taxes. Of course, foreign businesses will do everything to protect their assets and profits. Paying taxes is cost effective and makes more business sense, instead of not paying tax.