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Russian Solidarity Tax on High Income Individuals Proposed

|Proposed Changes|Russia
Russia

Deputies from the Russian State Duma, the lower house of parliament, have recently proposed the introduction of a solidarity tax. The tax would be imposed at a rate of up to 30% on individuals with annual income exceeding RUB 12 million. The current standard flat tax on individual income is 13%.

The primary purpose of the tax is to fund the development of Crimea and will likely come to a vote in the fall 2014.

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