27 May 2024 10:23

Personal income tax progressive scale's lower threshold may be set at around 150,000 rubles in Russia - State Duma committee's recommendations

MOSCOW. May 27 (Interfax) - The lower threshold for the personal income tax progressive scale may be set at least double the size of the average monthly nominal salary in Russia, the State Duma Budget Committee said in its recommendations for fine-tuning the tax system.

"It is essential that the higher tax burden does not affect the vast majority of citizens. Therefore, having studied all of the proposed options, we recommend that the lower threshold of the scale be set based on income not less than twice the average monthly nominal salary in the Russian Federation. It should also be taken into account that the threshold for the application of tax on professional income is 2.4 million rubles per year or 200,000 rubles per month," the recommendations, which were published on the State Duma's website on Sunday, said.

In accordance with the Federal State Statistics Service's statistics regarding the average monthly nominal accrued salary in the Russian economy as a whole, it amounted to 75,034 rubles in January and 78,432 rubles in February.