The Russian government is considering implementing a new progressive tax system that may require wealthy individuals to pay higher income taxes. Currently, Russia has a flat personal income tax rate of 13%, with a 15% tax rate applying to incomes over 5 million rubles ($56,100) per year. However, the Ministry of Finance has proposed introducing progressive taxes. Under this proposal, those with income below 2.4 million rubles would be taxed at 13%, while those earning between 2.4-5 million rubles would pay 15% tax. Individuals with incomes ranging from 5-20 million rubles would face an 18% tax rate, and those earning over 20 to 40 million rubles would be taxed at 20%. The highest level of tax, at 22%, would apply to those with incomes over
