Official financial reports from the Russian government

Russia's Parliament Approves Sweeping Tax Hikes, Grants Rosneft Oil Project Tax Break

Jul 10, 2024, 07:30 AM

Russia's lower house of parliament has approved sweeping tax hikes in a final reading. The new measures, proposed by the finance ministry, include extra progressive income tax rates and increased corporation tax. The State Duma's press service announced that the bill, which aims to raise income tax rates for millions of better-off Russians, was unanimously supported by the deputies. Additionally, the Rosneft oil project was granted a tax break as part of the legislative changes.