02:07 GMT +312 December 2017
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    Business Lobby Proposes 15% Income Tax Rate – Paper

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    The Business Russia lobby group, headed by entrepreneurs' rights ombudsman Boris Titov, is to introduce a bill to the State Duma in the fall to raise income taxes on high salaries to 15 percent in two years, Izvestia daily newspaper reported on Friday.

    The Business Russia lobby group, headed by entrepreneurs' rights ombudsman Boris Titov, is to introduce a bill to the State Duma in the fall to raise income taxes on high salaries to 15 percent in two years, Izvestia daily newspaper reported on Friday.

    Russia currently has a flat income tax rate of 13 percent.

    "We will suggest raising income tax for monthly salaries at 100,000-150,000 rubles ($3,057-$4,585) to a [15 percent] level," Business Russia tax committee chairman Marina Zaikova told the paper. "Of course, we can't change the tax rates in the next two years but we are able to present these ideas when [the government] starts working out the budget for 2014-2015."

    Russia's Economic Development Ministry, which has discussed previous initiatives from Business Russia, declined to comment on the information to the paper.

    Any bills proposing tax increases are likely to be approved as the government struggles to fulfil its election pledges for increased social spending, the paper says. The chances of income tax increases on high salaries is significant and many high earners with jobs in Moscow are likely to be concerned about it, Igor Nikolayev, head of strategic analysis department in Russian FBK audit firm, told Izvestia.

     

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