Alina Kalinskova has commented on the introduction of a progressive taxation system in Russia

Alina Kalinskova - associate

A progressive personal income tax scale will be introduced in Russia since January 1, 2021.  In particular,  15% rate will be applied to income in excess of 5 million rubles per year instead of the previous flat personal income tax rate of 13%. According to preliminary calculations of the Ministry of Finance, the innovation will annually bring to the budget not less than 60 billion rubles.

“In case the progressive taxation system will be adequately perceived by society and will work effectively in the Russian Federation, I do not exclude the expediency of further increasing the rate of personal income tax in the future,” commented on the changes for the Vot Tak TV online edition Alina Kalinskova, a junior associate at Maxima Legal.

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