FINANCE

Russians see new taxes as cause of poverty

The number of Russians expecting the next year to be more economically unfortunate has gone up by 10%, having reached about a third of the overall population. The findings of a poll were reported by Levada Analytical Center.

Sergey Wenyavsky | RIAN

25% of Russians believe their families’ financial standing will deteriorate. The major cause for the people’s negative perceptions is a recent increase in taxes.

Last week, Russian President signed into law a bill on raising VAT from 18% to 20%, effective on January 1, 2019. Many respondents also fear imposition of a tax of up to 6% on self-employed individuals. With the worsening economy situation in the background, the number of self-employed (whose incomes are not formal) has been growing.

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