MOSCOW: Legislation has been tabled in Russia’s lower house of parliament, the Duma, to introduce a two-rate personal income tax regime, in place of the current flat tax regime.
The bill would create a new rate above the current 13 percent flat rate, of 18 percent for those earning more than RUB24m (USD422,620). The 13 percent rate would continue to apply below this threshold.A consultation is ongoing on the bill and the State Duma Committee on Budget and Taxes is currently reviewing the text. A first reading is expected this month.
