the Russian Government denied reports about the possibility of increasing personal income tax rate for Russians with high income. “This issue is not discussed”, — said TASS in the press service of the Cabinet of Ministers.
Earlier media had reported, citing sources, that the Russian government returned to the discussion of raising the personal income tax rate from 13% to 15% for wealthy citizens.
for the First time increase in income tax was discussed in 2018: members of the government discussed the increase in the personal income tax rate by 2 percentage points to 15% with the introduction of nontaxable minimum. The government has no plans to raise the personal income tax, said in may 2018, then acting Minister of Finance, the candidate for the post of first Deputy Prime Minister Anton Siluanov.
In particular, “Izvestia” reported that allegedly now considering a tax increase for people with annual income of more than 3 million rubles, or 1% of the population. In this case, the growth rate of personal income tax by 2 percentage points will provide additional revenues to the budget of about 60 billion rubles. Additional income will be spent on the support of the population with low incomes. According to the study FinExpertiza, collecting personal income tax from salaries of non-working in April fell 23%, or 82.5 billion compared to March, with 355,9 273,4 billion to billion.
In March 2020, the state Duma adopted a law that introduces for the citizens of withholding tax on interest income from deposits and investments in securities, if the size of the contribution or investments exceeds RUB 1 million, the tax rate will be 13%. When calculating tax on interest income will take into account all the contributions of the taxpayer. The tax authority will calculate the tax amount for the tax period on the basis of information from banks. The government will tax the income received from 1 January 2021. Thus, the first revenues from levying the new tax will fall on 2022.
