- Russia raising taxes for the first time in 26 years
- Aimed at boosting war budget and economy
- Wealthiest individuals will pay higher taxes
- Tax hike to come into effect in 2025
- Introduces progressive tax system for incomes exceeding £20,000
- Tax rates: 15% for £20,000 to £43,000, 18% for £43,000 to £171,000, 20% for £171,000 to £429,000, and 22% for incomes over £429,000
Source: assets.kpmg.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Saudi Arabia"
- Saudi Arabia Seeks Feedback on Economic Substance Rules for Special Economic Zones
- New VAT Rules: When Marketplaces Must Account for VAT Instead of Individual Sellers
- Saudi Arabia VAT: New Deemed Supplier Rules for Electronic Marketplaces Effective January 2026
- Saudi Arabia Issues Bylaws Establishing Tax and Regulatory Framework for Special Economic Zones
- Saudi Arabia Issues Implementing Regulations for Special Economic Zones, Introducing Tax and Customs Incentives
