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VTB chief sees support for his initiative to exempt low-income people from tax

"I think that this idea, just like de-dollarization, will receive positive feedback," he said

MOSCOW, November 21. /TASS/. VTB bank head Andrei Kostin sees increasing support for his initiative to exempt Russians with low incomes from the personal income tax, the official told TASS on the sidelines of the VTB Capital Investment Forum "Russia Calling!" on Wednesday.

"So far, I’m trying to mobilize the public opinion. Frankly, it appears to me that the support for this idea is really growing," Kostin said, adding that he sees support for this idea among Russian government and presidential administration officials.

"I think that this idea, just like de-dollarization, will receive positive feedback," he added.

During the Moscow Financial Forum in early September, the banker voiced the proposal to establish the minimal income that would be exempt from the income tax, and, therefore, to support people with low incomes. In his opinion, the move will help Russians with low incomes to receive additional money and will contribute to the growth of internal demand.

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