The Russian parliament is considering draft Bill No. 179937-8, which provides for a major increase in the minimum wage from RUB 15,279 per month to RUB 30,000 per month with effect from 1 January 2023. 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 minimum wage.