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Article: BABAKOV CALLS FOR TAX ON LUXURY ITEMS
- Article from:
- Info-Prod Research (Middle East)
- Article date:
- January 8, 2007
CopyrightCopyright 2007 Info-Prod Research (Middle East). Provided by ProQuest LLC. (Hide copyright information)
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The leader of the Rodina (Motherland) Party, Alexander Babakov,
has called for the introduction on a new tax on luxury items. Babakov
has stated that any item priced at more than 15 billion rubles
($568,000), should be considered a luxury item, according to Russia
IC. Thus, any Russian citizen owning a yacht, helicopter, airplane,
expensive jewelry or cars will be charged an additional tax on such
items, since they cannot be regarded as prime necessities. Cars and
other vehicles which cost over 2mn rubles will reportedly be on the
list, while jewelry priced at over 300 thousand rubles are unlikely
to be considered as life ...