Russia weighs biggest tax shake-up in almost 25 years as Putin scrambles to finance Ukraine war

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المملكة العربية السعودية أخبار أخبار

المملكة العربية السعودية أحدث الأخبار,المملكة العربية السعودية عناوين

As the war in Ukraine drains the Kremlin's coffers, the government is scrambling to find new ways to finance it. After nearly three decades with most Russians paying just 13% in taxes, Vladimir Putin is eyeing a radical shake-up.

Signs of Russia's so-called special military operation are everywhere in Moscow, from roadside recruitment adverts to Z-themed souvenirs. Now there is another example - a proposed tax hike that amounts to the biggest shake-up of the Russian tax system in a quarter of a century. As the war in Ukraine drains the Kremlin's coffers, the government is scrambling to find new ways to finance it.

The move simplified a previously complicated tax regime which few adhered to and it successfully boosted revenues - and his popularity - as a result. A higher rate of 15% was established in 2021 for those earning more than five million roubles . Now the finance ministry wants to lower the threshold for the 15% rate, so it applies to annual incomes from 2.4 to five million roubles, and introduce more bands above.

 

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المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين