Russia is preparing to significantly increase fines for economic crimes, particularly for entrepreneurs and companies. For certain violations, the penalties will increase fivefold, while the government plans to receive a record 1.7 trillion rubles in fines over 2026–2029. The Moscow Times reports this, citing Interfax and budget documents, writes UNN.
Details
On November 9, the Russian State Duma committee recommended adopting at the second reading a government bill providing for tougher penalties for more than 30 types of economic crimes.
In particular, the maximum fine for illegal business activities without registration or a license is proposed to increase from 300,000 to 1.5 million rubles. For a similar violation committed by a group of people, the fine would rise from 500,000 to 2.5 million rubles.
Which other fines will increase
For companies evading tax payments, the maximum fine could increase to 1.5 million rubles; for copyright violations, to 1 million; and for producing counterfeit money on a large scale or by a group of people, to 5 million rubles.
Russia’s Justice Ministry explains the need for the changes by saying that some fines have not been reviewed for more than 20 years.
How much money Russia wants to receive
In 2027–2029, the Russian government expects to collect more than 1.3 trillion rubles in fines, or a record 1.7 trillion rubles together with 2026.
At the same time, a significant portion of the federal budget is being consumed by the war against Ukraine. More than 50 trillion rubles are earmarked for the “National Defense” budget item alone over the next three years.
The cumulative Russian budget deficit for 2027–2029 is projected at nearly 15.8 trillion rubles.