Reported 4 months ago
Russia is planning tax hikes for companies and the wealthy to generate an extra $30 billion in budget revenues, allowing for increased spending, including on the war in Ukraine, without jeopardizing fiscal stability. The changes aim to address national issues, reduce inequality, and support regional development, covering President Putin's infrastructure and social spending pledges. The proposed tax adjustments are expected to bring in additional revenue, with a focus on non-oil and gas sectors, ensuring no impact on the budget rule or the National Wealth Fund.
Source: YAHOO