The Russian State Duma last Friday approved an increase in dividend taxation from 6% to 9% in a bid to deter firms from using a tax avoidance scheme.
The measure was proposed in April by the Finance Ministry in the hope of compelling firms to abandon the practice of paying employees with large dividends and low salaries, which are subject to taxation at a higher rate of 13%.
The proposed amendment to the tax code must first be approved by the Federation Council and signed by President Vladimir Putin, and is expected to become law in January.
Last Friday’s vote in the Duma was the third and final reading of the tax proposal.
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