How tax changes will affect inflation and demographics / Comment / Izvectia

On May 29, the Government Commission on Legislative Activities approved a document from the Ministry of Finance with amendments to the Tax Code. The Ministry of Finance has already presented the main parameters. Changes for citizens involve five stages of a progressive scale. For those Russians who receive from 2.4 to 5 million a year, the personal income tax rate may increase from 13% to 15%. This is equivalent to earning from 200 thousand to 416 thousand per month. Of the 64 million working population, the progressive scale will affect only 3% of the working population, the ministry previously estimated.

Nordic Star Managing Partner Andrei Gusev examined the impact of tax changes on the country’s demographics, and also assessed the risks of increased tax evasion among the population of the Russian Federation.

Read more in the Izvestia article.

Andrei Gusev
Managing Partner, Attorney-at-Law

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