Profit Tax Rates
Under Article 98 of the Tax Code, the profit tax rate is 15 percent. The choice of rate depends on the activity: profit from oil and gas operations under existing agreements is taxed at 10 percent where the agreement was concluded before 1 January 1998; the taxable profit of a banking institution, credit union, microfinance organization or loan-providing entity is taxed at 20 percent. The profit of an organizer of electronically organized gambling or totalizator games with the participation of foreign citizens is taxed at 5 percent in that part, while taxable profit from a slot-machine hall is taxed at 20 percent. The first step of optimization is therefore the correct classification of the activity and the corresponding rate.