Russian Finance Minister Siluanov: personal income tax, VAT and income tax in 2022 will not increase
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Russian Finance Minister Anton Siluanov said that in 2022-2024 the Ministry of Finance does not plan to increase the rates of personal income tax (PIT), income tax and value added tax (VAT). His words are reported by Interfax.
“What will happen next in the three-year period? We do not plan any innovations here, an increase in rates: whether it be tax rates on personal income, be it income tax rates, VAT, “commented Siluanov. At the same time, the minister added that the decision to increase the personal income tax rate for incomes of more than five million rubles a year to 15 percent fully justified itself.
“These two percentage points to the 13 percent that were introduced, they will allow us to collect about 80 billion rubles this year – this is a good resource, we planned 60 billion rubles. […] The economy is recovering at a faster pace, the wages of the rich, people with good incomes are growing, ”the head of the Ministry said. These revenues to the budget, Siluanov reminded, go to the treatment of children with serious and rare diseases.
Earlier in December, Siluanov urged domestic companies not to use special tax regimes in offshore areas, as in this case taxes go to other states. The minister commented on the international fiscal reform Pillar 2, which sets a 15 percent income tax rate for international holdings. When the mechanism begins to operate, Russian business, which enjoys tax benefits at home, but is registered in foreign offshores, will pay the difference between the two tax rates in foreign jurisdictions. Siluanov said that this money should go to the Russian treasury, and companies should re-register at home.
