Russia weighs biggest tax shake-up in almost 25 years as Putin scrambles to finance Ukraine war
A higher rate of 15% was established in 2021 for those earning more than five million roubles (around £43,500).
Now the finance ministry wants to lower the threshold for the 15% rate, so it applies to annual incomes from 2.4 (around £20,800) to five million roubles, and introduce more bands above.
Incomes between five and 20 million roubles (around £43,500 to £174,000) will be taxed at 18%, those between 20-50 million roubles (around £174,000 to £434,000) at 20%, and anything over 50 million roubles at 22%.
Under the proposals, corporation tax will also increase from 20% to 25%.