Report: Russia to get extra 80 bln rbl from high income tax in 2021

MOSCOW, Dec 30 (PRIME) -- Russia’s federal budget will receive an additional 80 billion rubles from the increased personal income tax for citizens with high income, Finance Minister Anton Siluanov said in an interview with the Rossiya 24 TV channel on Thursday.

Russia abandoned the flat personal income tax scale in 2021, raising the rate to 15% from the usual 13% for incomes over 5 million rubles a year.

“These two percentage points to 13%, which were introduced (in 2021), will help collect about 80 billion rubles this year,” Siluanov said.

The government estimated budget revenues from the increased personal income tax at 60 billion rubles at the beginning of the year. The funds collected from the rate increase are used to treat children with rare diseases.

The ministry has no plans to further increase personal income tax, general income tax or value-added tax (VAT) in 2022–2024, Siluanov said.

(73.6514 rubles – U.S. $1)

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