The State Duma adopted in the first reading the amendments introduced by the government to the Tax Code, which provide for the transition to a progressive scale of personal income tax. This was reported by the official Telegram channel of the State Duma.
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Earlier this week, the bill was approved by the competent budget and tax committee.
The channel, citing the words of the Chairman of the State Duma, Vyacheslav Volodin, reports that the additional budget revenues obtained thanks to the introduction of a progressive tax scale will be used to support families with children, SVO participants, pensioners and the development of regions and industry.
- The bill assumes that the personal income tax rate will increase from 13% to 15% for Russians with incomes of 200,000 rubles a month, or 2.4 million rubles a year.
- For those whose income ranges from 5 to 20 million rubles a year, the rate will increase to 18%; from 20 to 50 million rubles per year – 20%, more than 50 million rubles – 22%. At the same time, the tax increase will not be paid on all income, but only on the established thresholds.
- It is also planned to increase the corporate income tax from 20% to 25% and increase the mineral extraction tax for mineral fertilizer producers and for iron ore miners.
RB.RU previously explained what will change for entrepreneurs and ordinary citizens thanks to the introduction of a five-tier tax scale.
For businesses, amendments to the Tax Code could lead to sellers leaving markets, increased rental prices, changes in the operation of manufacturing companies and even inflation.
Author:
Anastasia Marina
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
