The Russian finance ministry announced last week that it was thinking about introducing taxes for those on higher incomes and high corporation tax.This is meant to raise more than £22.5billion, which Russia says will go towards regional spending – but many believe will actually fund the war in Ukraine.
Russia’s invasion of its European neighbour has dragged out for more than two years, even though it was meant to be a brief operation.8% of the country’s GDP, and is taking up almost a third of Moscow’s state budget for this year.But, Putin first became popular in 2001 when he introduced flat tax rate of 13%, which everyone paid.This new plan would involve making more people pay that 15% rate – meaning anyone earning between 2.5 million roubles and 5 million would have to pay it.
Other tax bands could also be introduced under the proposals, while corporation tax could increase from 20% to 25%.That works out to an average of more than 1,200 per day in May, which the MoD describes as the “highest reported since the start of the war”.The MoD said: “It is highly likely that most Russian forces receive only limited training and they are unable to carry out complex offensive operations.
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