Russia: draft law on luxury tax introduced to Parliament
A draft law on luxury tax was introduced in the Parliament.
Items subject to luxury tax would include immovable property with a value above RUB30m and vehicles with a value above RUB3m.
The tax base would be the market value of such assets.
The following annual tax rates are proposed:
For immovable property:
If adopted, the amendments would enter into force as of 2013.