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Siluanov: No Plans to Change Income Tax in 3-Year Budget

Oct. 18, 2021, 10:25 AM

“Billionaires will always find a way to avoid taxes, but the middle class will suffer the most,” Russian Finance Minister Anton Siluanov says at parliamentary hearing on budget.

  • Fiscal normalization will ease inflation pressure, Siluanov says
  • No need for more steps to progressive income tax, Economy Minister Maxim Reshetnikov says at the same meeting
    • Government needs to be careful in taxation on labor as businesses may consider other countries
    • Changes in mining tax will help to redistribute for social payments
  • NOTE: Putin Is Back to Building Financial Fortress as Reserves Grow

--With assistance from Andrey Biryukov.

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