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Siluanov called the tax burden on labor prohibitive

Siluanov called the tax burden on labor prohibitive
Photo by: kremlin.ru

Russian Finance Minister Anton Siluanov called the tax burden on labor prohibitive. According to him, now the department is thinking about how to reduce taxes, because in other countries this is not.

As noted in the interview RBC Head of the Ministry of Finance, most of the insurance premiums in Russia are paid by employers. This is very difficult for them, so they resort to tax evasion schemes. According to Siluanov, it is now important to find sources of compensation to reduce insurance premiums and personal income tax.

“We are interested in reducing this burden, but also in balancing common approaches to taxation so that industries do not suffer,” the minister said.

According to him, tax rates will not change until 2024. By this time, the federal will consider proposals for the introduction of different rates for people with different income levels.

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