RUSSIAN PERSONAL INCOME TAX TO BE INCREASED

Russian Parliament considers the possibility to increase the personal income tax.
Currently the basic personal income tax rate for Russian residents is 13%, regardless of the amount of income.
If the draft law will pass, the 13% rate will apply to annual personal income not exceeding 5 million rubles (approx. EUR 60.000). The 15% tax rate will apply to the part of the annual income exceeding 5 million rubles.