Tuesday, 23 June 2020

Putin raises tax for wealthy Russians ahead of vote on his rule

Putin raises tax for wealthy Russians ahead of vote on his rulePresident Vladimir Putin raised income tax for wealthy Russians and offered new state handouts to families with children on Tuesday, days before the country votes on reforms that could keep him in power until 2036. In a televised speech to the nation, Putin, 67, said Russia's response to the coronavirus crisis had saved tens of thousands of lives and he ordered the extension of several support measures to cushion the economic fallout. Deviating from a flat 13% tax he himself introduced almost two decades ago, Putin said the wealthy would now pay 15% on annual income over 5 million roubles ($72,833) and that the additional cash would go towards helping sick children.




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