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Experts have estimated the possible loss of the budget due to the abolition of tax for the poor

Experts have estimated the possible loss of the budget due to the abolition of tax for the poor
Photo: pixabay.ru

The Federal Tax Service has calculated how much the federal budget will lose if the personal income tax is canceled for citizens whose income is at the minimum wage. The treasury will lose more than one trillion rubles, while the tax increase for the rich will not be able to cover the shortfall.

According to RBC, the reason for this lies in the fact that the main income from personal income tax is brought to the state by citizens with low incomes. 93% of working Russians receive a salary of up to one million rubles a year. Moreover, 28,2% of earnings do not exceed 10 thousand rubles per month or 114 thousand rubles per year.

But citizens who receive a salary above one million rubles per year in Russia are no more than 6,9%. Even if they begin to pay increased taxes, this does not compensate for lost budget revenues in the event of cancellation of personal income tax for citizens with low incomes.