Aggressive scale: how Russians are preparing to raise taxes

Aggressive scale: how Russians are preparing to raise taxes

Starting from January next year, Russia will have an increased, 15% PIT for income over 5 million rubles per year. The corresponding bill was approved by the State Duma in the third reading on November 11. HSE experts suggest going even further and raising taxes to 20-24%. The fact is that due to the coronation crisis, budget expenditures have increased significantly, and in the next three years it will have to be recovered with a deficit. The Ministry of Finance once again rejected the idea of tax increase, but experts interviewed by "Profil" believe that the population is gradually preparing for the growth of the fiscal burden. The maximum rate for personal income tax may reach 30%.

...

It is irrational to increase the fiscal burden now, at a time of strong decline in business activity, believes the chief tax adviser of the law firm Tax Compliance Yuliya Pavlova. It will be difficult for companies, and the government understands it.

"The impact of this crisis on the country's economy together with the fall of oil revenues and sanctions restrictions in general show the need for reforms. And they will require a long time. It is possible that the transition period will be followed by an increase in the tax burden," she admits.

...

.

You can view the full article at Profile

.
profile profile

Yulia Pavlova

Major specialisations

Construction, FMCG

Chief Tax Consultant

Biography