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US Firms Pay $1.2 Billion in Taxes to Russia

1/14/2025

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Summary

Story summary

In 2023, US companies paid over $1.2 billion in profit taxes to Russia, becoming the largest foreign contributor.
A total of 123 major US firms continue operations in Russia, alongside 328 smaller companies.
Key tax contributors include Philip Morris ($220M), PepsiCo ($135M), and Mars ($99M).
Companies exiting Russia must pay a 15% exit tax and sell assets at a 50% discount.

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Story summary

In 2023, US companies paid over $1.2 billion in profit taxes to Russia, becoming the largest foreign contributor.
A total of 123 major US firms continue operations in Russia, alongside 328 smaller companies.
Key tax contributors include Philip Morris ($220M), PepsiCo ($135M), and Mars ($99M).
Companies exiting Russia must pay a 15% exit tax and sell assets at a 50% discount.