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Source says 'Gray money' tax may cover up to 5 mln Russians

October 21, 2016, 20:07 UTC+3

According to official statistics, about 13-15 mln Russian citizens do not make contributions to extra-budgetary funds without socially justified reasons

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© AP Photo/Dmitry Lovetsky

MOSCOW, October 21. /TASS/. A new "gray money" tax may cover 5 mln Russians and provide over 100 bln rubles ($1.6 bln) of annual budget revenues. Its amount should be 20,000 rubles ($319.8), a source in the Russian government familiar with the situation told TASS on Friday.

According to official statistics, about 13-15 mln Russian citizens do not make contributions to extra-budgetary funds without socially justified reasons.

"It is possible to bind about 5 mln people from this population to pay the tax, making possible to earn over 100 bln rubles ($1.6 bln) more for the budget, considering that the tax will amount to approximately 20,000 rubles ($319.8)," the source said.

"It is not proper to call this deduction the "unemployment tax" or the "freeloading tax". This tax will primarily cover those working but receiving backdoor salary or doing business not formalized officially," the source added.

The concept of the draft law on "gray money" for individuals having earnings but not making contributions to the compulsory medical insurance fund is currently under consideration, Deputy Prime Minister Olga Golodets said earlier.

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