Reported 4 months ago
Russia's finance ministry has proposed a new progressive income tax system that would increase taxes on the country's wealthy elite. The proposal involves a 13% tax for incomes up to 2.4 million rubles ($27,000) annually, with higher rates for higher incomes, reaching a maximum of 22% for those earning over 50 million rubles ($555,000) per year. The change aims to target only 3.2% of Russia's working population and represents a shift from the current flat-rate tax system in place since 2001.
Source: YAHOO