Support The Moscow Times!

Medvedev Orders Luxury Tax by October

Prime Minister Dmitry Medvedev has ordered the Finance and Economic Development ministries to introduce a luxury tax by Oct. 15, two weeks ahead of schedule, according to a statement published on the government's official website Tuesday.

During his annual TV call-in show last month, President Vladimir Putin supported a tax on luxury cars, calling it "more a moral issue than a fiscal one," and an additional property tax. He subsequently ordered the government to establish a luxury tax by Nov. 1.

An existing proposal calls for doubling taxes on cars that cost more than 5 million rubles ($160,000) and tripling taxes on cars worth more than 10 million rubles, Putin told TV viewers.

Putin first called for a tax on elite cars and real estate in his state-of-the-nation address in December. He said at that time that the luxury tax should be introduced in the first half of 2013.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.


Read more