![]() ![]() He also said he would tax interest on Russian bank deposits and bonds exceeding 1 million rubles ($12,500). Putin said he would hike taxes on dividend and interest payments that Russian companies make to their owners' offshore bank accounts. With COVID-19 cases rising in Russia, President Vladimir Putin went on TV to announce measures he said were aimed at lending young families, workers, and small business owners financial support as the coronavirus upends daily life on a mass scale.Īnd toward the end of his surprise 17-minute speech on March 25, announced just a few hours beforehand, Putin laid out how this support would be financed, in whole or in part: taxes on the well-to-do.ĭespite having access to hundreds of billions of dollars meticulously stored away for just such an economic crisis, Putin unexpectedly called for long-term changes to the nation's Tax Code to target its richest individuals – as well as, to a much lesser extent, the middle class. ![]()
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