1/ A deluge of new taxes and fees is being imposed on Russians following the State Duma elections. As the Russian government seeks to boost its war-depleted finances, ordinary Russians are about to feel the impact in their wallets. ⬇️
2/ Alexey Zhivov highlights the numerous ways in which Russians are about to be drained of even more money to fund the war: "The Ministry of Finance proposes to include "passive" income of citizens in the basic tax base for personal income tax (PIT) with rates of 13-22%." 3/ "This includes dividends, interest on deposits, transactions with securities, income from the sale of property, and gifts. The Ministry explains that the initiative is aimed at unifying the taxation of income for individuals. 4/ "Currently, "passive" income is taxed at rates of 13% and 15%. The changes will not affect deposits up to 1 million rubles and participants in the Special Military Operation (SMO). 5/ "According to estimates by the Ministry of Finance, the new measures will affect approximately 4 million people. 6/ "Separately, the Ministry of Finance proposes to introduce a 22% VAT on foreign goods purchased online (marketplaces will be responsible for payment) starting in 2027. It also proposes to introduce a customs fee of 100 rubles for foreign purchases worth up to 200 euros. 7/ "The authorities propose to introduce a tax on additional income for mining companies, earned due to the rise in global prices for solid minerals, starting in 2024. The rate will be 30%, and for gold mining companies, it will be 20%. 8/ "Other tax and tariff initiatives announced in recent days: * Increase in the recycling fee on cars. Starting 1 January 2027, the recycling fee will increase by 10-20% depending on the category of car. A gradual increase in the recycling fee is planned until 2030. 9/ "* Additional fee for air passengers. The authorities are considering a fee of up to 500 rubles for domestic flights and 1,000 rubles for international flights to compensate for the leasing and operation of new Russian aircraft. 10/ "* New fees for infrastructure protection. The head of the Duma committee on competition protection, Valery Gartung, stated that Russia may revise taxes and tariffs to finance the protection of energy, infrastructure, and industrial facilities from attacks. 11/ "* Increased control over cash. The Central Bank plans to strengthen checks on the sources of cash funds for clients, especially in markets and during cryptocurrency exchanges. To this end, the Bank of Russia intends to amend Federal Law No. 115-FZ. 11/ "* Increased control over cash. The Central Bank plans to strengthen checks on the sources of cash funds for clients, especially in markets and during cryptocurrency exchanges. To this end, the Bank of Russia intends to amend Federal Law No. 115-FZ. 12/ "The reason for this is the sharp increase in the volume of cash in the economy. It's all coming thick and fast." /end Sources: t.me