Russia’s Progressive Personal Income Tax to Affect 2m People

Russia’s progressive personal income tax to affect 3.2% of working people, or 2 million out of 64 million people, Finance Minister Anton Siluanov says in a statement.

• Finance Ministry submitted draft bill on tax and budget amendments to the government
• Progressive income tax will affect people with annual income of over 2.4 million rubles
  • Russians will pay increased income tax not on the entire income, but only on the amount exceeding the thresholds of the progressive scale
  • Personal income tax will remain at 13% if annual income below 2.4 million rubles
• READ, March 11: Russia Weighs Post-Election Tax Hikes ...