The Russian Ministry of Finance Nov. 18 announced that the lower house of parliament (State Duma) approved a tax policy measure bill. The bill includes measures to: 1) introduce a social tax deduction, and exempt one-time compensation, related to children’s sports; 2) exempt land and property taxes for individuals in areas with emergency resettlement regimes; 3) apply only individual income tax to individuals’ bank interest income, and up to a 15 percent tax rate to vacation pay, sick leave, and travel allowances; 4) reduce, to 20 million Russian rubles (US$248,046) in 2026, 15 million rubles (US$186,034) in 2027, and 10 ...
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