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

... 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. ...

TAX BURDEN FOR HIGHLY-PAID EMPLOYEES MAY BE INCREASED

... transition from a regressive to a progressive scale of taxation may occur. According to the position of the member of the Board of the Chamber of Commerce and Industry Yulia Georgieva, the new proposal inherently echoes the idea of introduction progressive taxation in five groups of taxpayers on the principle ‘earn more - pay more taxes’. The corresponding bill is currently being considered by the lower house of parliament. The Chamber of Commerce and Industry also noted that the transition to a rate of 15% personal income tax for annual income over 5 million rubles is not sufficient. Such an innovation has started working since the beginning of this year, it has been established that an increased tax of 15% instead of 13% is levied only on an amount exceeding ...

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