MOSCOW (Reuters) – Russian President Vladimir Putin on Tuesday proposed changing the annual rate of income tax from 13% to 15% for wealthy citizens on their earnings above 5 million roubles ($72,833) a year.
Speaking during a televised address to the nation, Putin said the changes could come into effect on Jan. 1, 2021 and would bring an additional 60 billion roubles to Russia’s budget.
(Reporting by Tom Balmforth; Writing by Alexander Marrow; Editing by Alex Richardson)
