Russia will raise individual income tax to 15 percent, from the current 13 percent, from 1 January 2021.
This will apply to annual income of Russian individual tax residents in excess of a threshold of RUB5 million.
The current 13 percent individual income tax rate will continue to apply as long as an individual’s income does not exceed the threshold. Otherwise, individuals will pay tax of RUB650,000 (13 percent of RUB5 million) plus 15 percent on all income in exc...
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