Changes in Personal Income Taxation
Date of publication
30.05.2024FBK Legal has drawn up an alert on potential changes to personal income tax based on the draft law of the Russian Ministry of Finance.
The crucial changes include:
- Introduction of progressive taxation for personal income from 2025
- Limitation of benefits and the right to deduct for those with income exceeding 50 million roubles
- Changes in the amounts of CFCs’ fixed profit from 2025
- Increase in standard tax deductions