Russia Weighs Post-Election Tax Hikes to Fund War in Ukraine

Russia is weighing options for big tax increases to raise as much as 4 trillion rubles ($44 billion) as the war in Ukraine puts growing pressure on the government’s coffers.

Tax hikes on corporate profits and on high-earning individuals are being considered, two people involved in the discussions said, asking not to be identified because the matter isn’t public. The government may raise personal income tax to 20% from 15% now for those earning more than 5 million rubles, and company taxation to 25% from 20%, according to the “Important Stories” news site and confirmed by two people involved in the discussions.