The global solution for payroll professionals, combines custom research, strategic white papers, country primers, webinars, and the expert guidance you’ve come...
July 7—Annual income of individuals would be taxed at a progressive rate according to a proposal submitted to the Russian State Duma July 3.
The proposed rates include:
• 13 percent for income more than 120,000 Russian rubles ($2,100) and up to 12 million rubles ($210,977);
• 18 percent for income more than 12 million rubles and up to 100 million rubles ($1.8 million);
• 23 percent for income more than 100 million rubles and up to 500 million rubles ($8.8 million); and
• 28 percent for income more than 500 million rubles.
Russia presently has a flat-rate income tax of 13 percent for resident workers on wage-related income. Nonresident workers are subject to a 30 percent tax rate, unless the nonresident receives residency status, which shifts the rate down to 13 percent.
To contact the reporter on this story: Jared Mondschein at email@example.com
To contact the editor responsible for this story: Michael Baer at firstname.lastname@example.org
The proposed law is available, in Russian, at: http://static.kremlin.ru/media/acts/files/0001201506300095.pdf.
More information on payroll issues in Russia can be found in the Russia country primer.
Notify me when updates are available (No standing order will be created).
Put me on standing order
Notify me when new releases are available (no standing order will be created)