Russia Considering New Top Individual Income Tax Rate of 30%
The Russian parliament is considering draft Bill No. 363564-8, which was submitted on 22 May 2023 for the introduction of a new top income tax rate of 30% on income exceeding RUB 10 million per year for resident individuals. Currently, resident individuals are subject to income tax at a rate of 13% on income up to RUB 5 million, with income exceeding that amount subject to a rate of 15%. The ne…
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