Oct 14, 2020
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We decided to make an exception from the tax for the rich

Russian deputies wanted to expand the list of incomes that will not be subject to the increase in personal income tax (PIT) from 13 to 15 percent. The State Duma Committee on the Budget proposes to exempt from the "tax for the rich" income from the sale of real estate, any property and insurance premiums. Writes about this "Interfax".

Also, parliamentarians consider it possible to keep the old tax rate for dividends. They explained their position by the fact that organizations have taxation of similar income at a rate of 13 percent. Also, the State Duma wanted to clarify the rules for calculating the increased tax on brokerage accounts. In the opinion of the deputies, it should not be calculated by brokers (tax agents), but by the tax authorities. This should be done on the basis of information received from tax agents at the end of the tax period.

Russian President Vladimir Putin in June 2020 announced the abandonment of the flat taxation scale. Personal income tax rises from 13 to 15 percent for people whose annual income exceeds five million rubles. The measure is expected to give the budget an additional 60 billion rubles. The Ministry of Finance had previously proposed making the only exception for income from the sale of real estate.

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