Personal income tax proposed to be raised up to 50% for rich Russians

Personal income tax in the amount of a quarter of income may be introduced for Russians who have annual income of more than 10 million rubles.  For those who show super-profits, taxation can reach 40-50%.  Parliamentarian Mikhail Shchapov made such a proposal the day before.

At the same time, the deputy proposed a reduction in taxation for citizens whose income is equal to the size of the minimum wage. In this case, personal income tax may be reduced to 5% or removed, reports URA.

According to the official, such a taxation system will be fairer and will reduce the current gap between different segments of the population, reducing the existing level of tension.

Responding to the assumption that after the introduction of a progressive tax, the oligarchs will leave the country, Shchapov counters, arguing that in developed European countries personal income tax is even higher and reaches 60%.

The common thirteen percent income tax was introduced in Russia twenty years ago according to a change in tax legislation. Up to this point, there were progressive rates of income tax both in pre-revolutionary Russia and in the USSR, and there were even attempts to completely abolish it in the Soviet Union.

There have been talks about changing the personal income tax and making it dependent on the taxpayer's income over the past decade in Russia, but this has not reached the adoption of a specific law.