After a good two years of war, the Russian state obviously needs money: higher incomes and corporate profits will be taxed more heavily in the future. Soldiers in war zones are exempt.
Russia has been waging war in Ukraine for over two years. Now the government in Moscow wants to raise more taxes on higher incomes and on corporate profits. The Ministry of Finance published the key data already announced by Kremlin chief Vladimir Putin. Accordingly, the current top tax rate on income of 15 percent should rise by seven points to 22 percent in 2025. The lowest tax rate is still 13 percent – for income up to 2.4 million rubles a year (around 24,000 euros). Taxes on corporate profits rise from 20 to 25 percent.
Three percent of employees affected
Additional revenue of 4.2 trillion rubles (around 42 billion euros) is expected, as Russian state media reported. In this way, Russia can also increase its reserves, which have been reduced by the war against Ukraine that has been going on for more than two years. Since the start of the war, the reserves in the National Prosperity Fund (NWF) have fallen by around half, with liquid assets recently amounting to the equivalent of 50 billion euros. The money was repeatedly used to balance the budget deficit.
According to the information, the staggered increases affect around three percent of employees or two and a half million people who earn the equivalent of over 2,000 euros per month. The top tax rate only applies to annual income equivalent to more than half a million euros. Soldiers in war zones who earn comparatively high amounts, as well as self-employed people, are exempt from the innovations.
In addition to the enormous expenditure on the war economy, the Russian leadership must continue to fulfill many social tasks, which is why the state, which is dependent on oil and gas sales, is dependent on additional income. The highest tax increases under Putin so far have yet to be confirmed by parliament.
According to the Ministry of Finance, the state wants to spend the additional income on family, children and youth projects, but also on the construction of apartments and roads and on the development of the IT industry. Part of the money will also be spent on other social purposes, including the renovation or expansion of medical facilities and schools.
»The adoption of these proposed changes will ensure stable and predictable conditions for citizens, businesses and regions over the next six years. And that ensures growth in the country’s economic prosperity,” Finance Minister Anton Siluanov was quoted as saying in a statement.
UAE the other day: Sanctions on Russia don’t work
Russia: Hold my vodka
No half measures, Putin tries to reel in an extra 42 billion, or 10% of Russia’s GDP.
While two years ago the average Russian already paid 80% to 95% on rent. Two years ago Joe Blogs made a report on this. Remember these ads where grandpa didn’t have to sell his car because junior went to the front?
[removed]
More of the Russian “elite” and middle class will be having second thoughts on supporting Poutine and his regime, if they haven’t already. Pussies were reaping the rewards of transitioning from communism to a free market economy when they had the chance to squash Poutine before he became too powerful to stop. Now it’s time to pay up bitches.
Time to add more sanctions that would affect a 42billion euros drop (obviously ideally more) but it would net the increase to zero causing more tax rises needed.
Taxes will continue until Putin is pleased.
Putin and the Russian people’s social contract of “don’t worry about politics and politics won’t worry about you” is starting to fall apart.
It’s easy to not care about a mobilization of 500,000 people when you’re not the one being mobilized, but everyone cares about taxes being raised, especially when they won’t see a dime of it being put towards the people of Russia.
Time will tell
🤣 … Mr Popularity is bucking for big numbers now!
Hate pootin. But his tax increases makes sense. Rest of the world should take an example of this.
Prepare for prices rising in EU and US because they’re the ones making electronics for russian weapons and supplying the much better than they do Ukraine.
Pooty isn’t about to spend the money he stole on slaves.
Can’t imagine why? It’s the dying beasts last words
Lol
Oh 💩 tin, this has all gone terribly wrong for you. Close the window on the way out 🙂
This will be as much about recruiting as it is about income
Sucks to be russian
This is a big thing. Increasing taxes (for big, independent companies) comes with a ton of risks for the country thats going through with it. If you draw more money from your companies, youre motivating them to move to a more profitable location. Now you might think moving huge companies isnt something so easily done, but youd be wrong. Its all about money after all and if the maths align, they are going to move to a more profitable neighbor.
“soldiers in war zones exempt.” Lol they reeeaally mean “war zone” no half measures indeed!
Well Tucker isn’t going to like this one bit, sounds like Russia is being run by a bunch of Democrats amirite
Pssst….pssst….Vlad….hike the taxes on stamps and tea. You won’t regret it. Just saying….
Tax increases never made anybody happy. Where ever they may live. But still I am happy about this news. Strange, no?
So in Russia you can expect no human rights, to be arrested for nothing, to be drafted to go die and now higher taxes.
23 comments
Translation with google:
After a good two years of war, the Russian state obviously needs money: higher incomes and corporate profits will be taxed more heavily in the future. Soldiers in war zones are exempt.
Russia has been waging war in Ukraine for over two years. Now the government in Moscow wants to raise more taxes on higher incomes and on corporate profits. The Ministry of Finance published the key data already announced by Kremlin chief Vladimir Putin. Accordingly, the current top tax rate on income of 15 percent should rise by seven points to 22 percent in 2025. The lowest tax rate is still 13 percent – for income up to 2.4 million rubles a year (around 24,000 euros). Taxes on corporate profits rise from 20 to 25 percent.
Three percent of employees affected
Additional revenue of 4.2 trillion rubles (around 42 billion euros) is expected, as Russian state media reported. In this way, Russia can also increase its reserves, which have been reduced by the war against Ukraine that has been going on for more than two years. Since the start of the war, the reserves in the National Prosperity Fund (NWF) have fallen by around half, with liquid assets recently amounting to the equivalent of 50 billion euros. The money was repeatedly used to balance the budget deficit.
According to the information, the staggered increases affect around three percent of employees or two and a half million people who earn the equivalent of over 2,000 euros per month. The top tax rate only applies to annual income equivalent to more than half a million euros. Soldiers in war zones who earn comparatively high amounts, as well as self-employed people, are exempt from the innovations.
In addition to the enormous expenditure on the war economy, the Russian leadership must continue to fulfill many social tasks, which is why the state, which is dependent on oil and gas sales, is dependent on additional income. The highest tax increases under Putin so far have yet to be confirmed by parliament.
According to the Ministry of Finance, the state wants to spend the additional income on family, children and youth projects, but also on the construction of apartments and roads and on the development of the IT industry. Part of the money will also be spent on other social purposes, including the renovation or expansion of medical facilities and schools.
»The adoption of these proposed changes will ensure stable and predictable conditions for citizens, businesses and regions over the next six years. And that ensures growth in the country’s economic prosperity,” Finance Minister Anton Siluanov was quoted as saying in a statement.
UAE the other day: Sanctions on Russia don’t work
Russia: Hold my vodka
No half measures, Putin tries to reel in an extra 42 billion, or 10% of Russia’s GDP.
While two years ago the average Russian already paid 80% to 95% on rent. Two years ago Joe Blogs made a report on this. Remember these ads where grandpa didn’t have to sell his car because junior went to the front?
[removed]
More of the Russian “elite” and middle class will be having second thoughts on supporting Poutine and his regime, if they haven’t already. Pussies were reaping the rewards of transitioning from communism to a free market economy when they had the chance to squash Poutine before he became too powerful to stop. Now it’s time to pay up bitches.
Time to add more sanctions that would affect a 42billion euros drop (obviously ideally more) but it would net the increase to zero causing more tax rises needed.
Taxes will continue until Putin is pleased.
Putin and the Russian people’s social contract of “don’t worry about politics and politics won’t worry about you” is starting to fall apart.
It’s easy to not care about a mobilization of 500,000 people when you’re not the one being mobilized, but everyone cares about taxes being raised, especially when they won’t see a dime of it being put towards the people of Russia.
Time will tell
🤣 … Mr Popularity is bucking for big numbers now!
Hate pootin. But his tax increases makes sense. Rest of the world should take an example of this.
Prepare for prices rising in EU and US because they’re the ones making electronics for russian weapons and supplying the much better than they do Ukraine.
Pooty isn’t about to spend the money he stole on slaves.
Can’t imagine why? It’s the dying beasts last words
Lol
Oh 💩 tin, this has all gone terribly wrong for you. Close the window on the way out 🙂
This will be as much about recruiting as it is about income
Sucks to be russian
This is a big thing. Increasing taxes (for big, independent companies) comes with a ton of risks for the country thats going through with it. If you draw more money from your companies, youre motivating them to move to a more profitable location. Now you might think moving huge companies isnt something so easily done, but youd be wrong. Its all about money after all and if the maths align, they are going to move to a more profitable neighbor.
“soldiers in war zones exempt.” Lol they reeeaally mean “war zone” no half measures indeed!
Well Tucker isn’t going to like this one bit, sounds like Russia is being run by a bunch of Democrats amirite
Pssst….pssst….Vlad….hike the taxes on stamps and tea. You won’t regret it. Just saying….
Tax increases never made anybody happy. Where ever they may live. But still I am happy about this news. Strange, no?
So in Russia you can expect no human rights, to be arrested for nothing, to be drafted to go die and now higher taxes.