The problem with Russia isn’t its economy. The problem is that Russia is filled with Russians.
Oh, I said that wrong. The problem with Russia isn’t its TAXES. It’s that it’s filled with Russians :). Hence why their economy sucks.
Not only 13% flat. But taken out by the employer, no filing unless you need to demonstrate the once in a lifetime home purchase deduction. About the only deduction they have.
The average person there doesn’t have to file.
Imagine the capital that would flood the USA if we had such a rate. Combine our society with such attractive taxes and we would be the envy of the planet with the wealth we would attract.
Of course, this is precisely the reason our leaders will not do this. They are busy leveling us down to world standard.
It’s worth noting that when this passed the tax rate was only 10%. Just saying...
Good idea..
Great post... Interesting. Makes me wonder why the flat tax there isn’t working.. Or maybe it is. I admit I know very little about Russia.
That is just income tax. Russian payroll tax is 30% on top of a gross salary and 40% for annual wages over ~$10k.
http://www.rfhwb.de/Docs/0%20index%20page/brief%20guide%20to%20russian%20taxes%202014.pdf