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Ex-finance minister does not rule out income tax hike for boosting Russia’s budget revenue

February 27, 11:13 UTC+3

Earlier the media reported that the Finance Ministry, the Economic Development Ministry and CSR had discussed tax maneuver options

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Ex-Finance Minister Alexey Kudrin

Ex-Finance Minister Alexey Kudrin

© Anton Novoderezhkin/TASS

SOCHI, February 27. /TASS/. Head of Russia’s Center for Strategic Research (CSR) and ex-Finance Minister Alexey Kudrin does not rule out an income tax increase for boosting the country’s budget revenues since the government has abandoned the idea to raise taxes on businesses.

"Each of those taxes has its advantages, but the government said it will not raise taxes on businesses, which leaves some gap for a potential income tax hike," he said on the sidelines of the Russian Investment Forum in Sochi on Monday.

Earlier Vedomosti business daily reported with reference to federal officials and experts familiar with the matter, that the Finance Ministry, the Economic Development Ministry and CSR had discussed tax maneuver options. Those involved in the discussion shared the view that it is necessary to raise the tax burden, the newspaper wrote. Particularly, the income tax rate may go up, though it will remain flat, Vedomosti said.

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