Overview

• The new tax system introduces higher rates for individuals earning over 2.4 million rubles annually, with the top rate of 22% for incomes above 50 million rubles.
• Corporate tax rates will rise from 20% to 25%, expected to significantly boost government revenue.
• The tax changes are part of efforts to address Russia's budget deficit, which has grown due to the ongoing war in Ukraine.
• The amendments are set to impact around 2 million people, or 3.2% of the workforce.
• Exceptions will be made for soldiers fighting in Ukraine, who will be exempt from the new tax regime.