Russia is considering implementing new tax measures in its draft federal budget for 2027–2029, proposed by the Finance Ministry, as the country grapples with ongoing fiscal challenges. The plan outlines a progressive tax rate ranging from 13% to 22% on passive income sources, including bank deposit interest, dividends, real estate sales, and securities trading. This change is estimated to impact approximately 4 million higher-income Russians, with military personnel exempt from the increased tax on passive income.
The draft budget also suggests a 35% tax on specific dividend payments directed to non-resident “Type C” accounts and a 15% tax on passive earnings from mutual investment funds. Additionally, cross-border online purchases would incur a 22% value-added tax, supplemented by a flat customs fee of 100 rubles for international packages valued below €200. Mining and metals companies may face a 30% tax on excess earnings linked to elevated global commodity prices.
The Finance Ministry emphasizes that the budget will continue to prioritize defense and security, while upholding social commitments and providing support to military personnel and their families. The draft projects a federal deficit of about 2% of GDP in 2027, based on an assumed oil price of $50 per barrel.
These proposed tax hikes arise as Russia encounters persistent pressure on its public finances. The country’s energy revenues have been affected by lower global prices, while government spending remains high. The new fiscal measures aim to bolster government revenue and address these financial challenges.