Russia has published Federal Law No. 365-FZ of 29 October 2024 in the Official Gazette, which increases the minimum monthly wage. Last increased to RUB 19,242 per month with effect from 1 January 2024, the law increases the minimum monthly wage to RUB 22,440 with effect from 1 January 2025. The minimum wage value is used for various tax purposes, including national insurance contributions for SMEs, which was reduced from 30% to 15% from 1 April 2020 on the portion of wages that is above the …