American companies that continue to operate in Russia have contributed over 1 billion dollars in tax revenues to the Kremlin, Newsweek reported on its website on Saturday.
"American firms in Russia paid the country 1.2 billion dollars in profit taxes in 2023, according to data from the B4Ukraine campaign and the Kyiv School of Economics (KSE), which they exclusively shared with Newsweek. This tax contribution makes the U.S. the largest taxpayer on foreign profits in Russia," the publication stated.
According to estimates from the Yale School of Management's Center for Executive Leadership (CELI), cited by Newsweek, 123 major American companies continue to do business with Russia at varying levels of engagement. The KSE Institute, which also includes small and medium-sized firms, estimates that approximately 328 American companies remain in Russia.
Source: https://www.newsweek.com/us-companies-pay-over-1-billion-taxes-russia-amid-ongoing-ukraine-war-2012473