Russia:

Russian President Vladimir Putin signed a law on increasing the personal income tax (PIT) for wealthy citizens.

Starting next year, income exceeding five million rubles a year will be taxed at a rate of 15%. Previously, the personal income tax rate was 13%.

This measure applies to periodic and active income directly related to employment (including salary and dividends). However, it will not apply to funds received from the sale of personal property (with the exception of securities), and payments under insurance and pension contracts. These incomes will continue to be taxed at the rate of 13%.

As reported in the Russian media, the increase in personal income tax on the income of wealthy people in the next three years should bring the budget about 190 billion rubles. They will be sent to treat children with rare serious diseases. The money will be used for treatment, purchase of expensive medicines, equipment and rehabilitation facilities, and high-tech operations.

It should be noted, in Kazakhstan the deputies proposed to introduce a tax on luxury. Currently, this issue is being considered by the Ministry of National Economy of the Republic of Kazakhstan. Earlier, the Head of the MNE Ruslan Dalenov stressed that taxation for Kazakhstanis provides for fair principles, and the luxury tax is an effective measure for this. According to Dalenov, today the IIT rate is 10%, and for those with small incomes, low tax rates are used.