In Russia increase Personal Income Tax rate

In the State Duma passed the first reading Draft law on raising taxes on the income of individuals with the current 13% to 15% on the income that exceeds 5 million rubles a year has passed. It is planned that this Draft law if it is accepted will start working from 1 January 2021. According to the chairman of the State Duma, this Draft law will allow you to find remedy to support those who need it most. According to the calculations of the Cabinet, implementation of the presented norm will result in an additional tax revenue in 2021 in the amount of 60 billion rubles, in 2022- 64 billon, and in 2023 already 68,5 billion.

The Ministry of the Finance also offered not to distribute the increase rate of Personal Income Tax on non-regular income from the sale of any personal property of citizens, with the exception of securities. Bid of 15 % will be applied to the salary dividends and other recurring and active income above 5 billion rubles directly related to the employment.

Link to source: https://sozd.duma.gov.ru/bill/1022669-7