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The government has returned to the idea of introducing a tax for the rich
Due to the consequences of coronavirus restrictions, the Russian government has returned to discussing the idea of introducing a tax for the rich. One option is the introduction of a progressive scale of tax on personal income: it can be raised from 13% to 15% for those whose earnings exceed two to three million rubles a year.
As the Forbes With reference to sources, the issue of approaches to taxation of people with different incomes was actively discussed in the winter. The options were calculated on the eve of the president’s message, while the presidential administration and the government have a ready-made scenario, which, if necessary, can simply be obtained and applied.
Discussions resumed due to a sharp increase in the budget deficit. The authorities want to direct money for social needs through tax changes, for example, to support poor citizens or pensioners.
However, there is no decision on this issue so far, and the Finance Ministry has opposed the initiative to increase personal income tax for the rich. The ministry believes that if the tax rate increase is small, then additional revenue to the budget will be the same, but administration will be difficult.
Deputy Prime Minister Olga Golodets spoke about the introduction of a progressive tax rate in November 2016. Then, in 2018, the government discussed the increase of personal income tax for citizens with incomes from seven to ten million rubles a year.