Putin revised the tax policy amid the storm of oil prices

Putin revised the tax policy amid the storm of oil prices


On Russian television channels, President Vladimir Putin on March 25 announced and proposed a number of urgent measures for society to support families and businesses in the context of the COVID-19 pandemic. .

Besides, he announced a change in some tax policies.

Mr. Putin is planning to book how much tax it will be
President Vladimir Putin. Photo: Sputnik

First, the Russian President announces the week of non-working but remains entitled to pay from March 28 to April 5 as an immediate necessary measure to prevent the spread of the disease.

During that time, many other essential services such as pharmacies, shops, banks and public transportation continued to operate to serve the needs of everyone.

In addition, the Russian President announced a series of measures to assist individuals and businesses affected to reduce the economic impact of the COVID-19 epidemic.

He also asked the government to increase unemployment and basic wages at 12,130 rubles ($ 155) and households with children will receive additional support.

Accordingly, families will receive 5,000 rubles per child per month. People who lose their jobs or take sick leave will receive the federal minimum wage payment.

Putin then published a series of proposals to stabilize the economy in this situation, as well as ensure long-term social benefits.

President Putin instructed the Cabinet to cut taxes for small businesses within 6 months, except value-added tax (VAT), requiring the Central Bank of Russia to implement measures to prevent the risk of disruption. manufacturing and bankruptcy, including a 6-month tax incentive for bank credit loans such as mortgages and consumer loans to individuals with at least a 30% decrease in monthly income.

Most notably, the Russian president saw a way to “circumvent” personal income tax and decided to prevent this gap. Mr. Putin proposed raising taxes for high-income earners and for money transferred to accounts abroad through dividends.

“All interest payments in the form of interest and dividends, transferred from Russia to foreign countries, will be taxed appropriately. Two-thirds of that amount has a tax rate of only 2% unfair in when the personal income tax is 13%. I suggest that the tax on dividends transferred to overseas accounts is 15%. ” – Mr. Putin said.

However, this proposal also requires agreement with foreign partners to accept these terms. If the partner refuses, Moscow will abandon this provision.

President of the Communist Party of the Russian Federation (KPRF) Gennady Ziuganov also appreciated the message of President Putin, because the Russian government for the first time supported the people “with money of the rich”.

“We seem to be in a critical situation and Putin has made a special emphasis on this in his message,” TASS quoted Ziuganov as saying. measures to help people with funding comes first from reserves and from the rich “.

On this occasion, the Russian President also announced the postponement of the vote on a constitutional change expected to take place in April – an event that would allow him to continue to run the country until next year. 2036.

The amendments were made in the context of Russia dealing with low oil prices as well as the strong effects of COVID-19.

Huy Vu

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