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4%  
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  • Russia is eyeing big tax hikes after this month's election to pay for the war in Ukraine

    03/15/2024 7:17:44 AM PDT · by marcusmaximus · 36 replies
    Business Insider ^ | 3/11/2024 | Yuheng Zhan
    Vladimir Putin could raise taxes after the presidential election this month to keep the money flowing to pay for the country's war in Ukraine. Bloomberg reported on Monday that the Kremlin is considering dipping into the pockets of high-earning Russians and corporations, as the government plans to hike taxes by as much as 4 trillion rubles ($44 billion). Sources said that the hikes could be finalized this summer. Under the plan, the government would raise personal income tax from 15% to 20% for those earning over 5 million rubles (roughly $55k USD) and from 13% to 15% for those making...