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Law on increasing personal income tax submitted to the State Duma
The State Duma, as a matter of priority, plans to consider a bill to increase personal income tax to 15% for individuals whose annual income is more than five million rubles a year. The amount of taxes received will be used to treat children with orphan diseases.
According to the press service of the State Duma of Russia, the tax increase can be approved from January 1, 2021. According to rough estimates, the Russian budget will receive 60 billion rubles per year in 2021, 64 billion rubles in 2022 and 68,5 billion rubles in 2023.
The draft budget-forming laws have already been submitted to the relevant State Duma committee. According to the Chairman of the State Duma Viacheslav Volodin, this is a fair decision that will support society.