Reported about 1 year ago
Russia's State Duma has given initial approval to a proposal that introduces higher income taxes for the wealthy in Russia, including a progressive tax system with rates up to 22% for annual incomes exceeding $573,000. The reform aims to increase federal budget revenues by $29 billion in 2025 and also includes raising the company income tax rate. This change marks a departure from the current flat tax system and is designed to target a small percentage of Russia's highest earners.
Source: YAHOO