Russian President Vladimir Putin proposes raising taxes to cover coronavirus costs
The additional budgetary funds would be used for medical treatment of children, he said
Russian President Vladimir Putin proposed raising taxes for the country's upper-middle class earners to help cover added budgetary costs brought on by the coronavirus pandemic, eliminating the flat personal income tax rate for upper-middle class.
In a televised address Tuesday, Putin said the proposed tax increase from 13 percent to 15 percent would apply those who earn more than 5 million rubles ($72,900) a year, reports the CNN.
The additional budgetary funds would be used for medical treatment of children, he said.
Russia has the third highest confirmed cases of the virus in the world, right after the United States and Brazil, according to data from Johns Hopkins University.
Putin said the economic fallout was a "serious challenge" for Russia.
The country has come under criticism at home and abroad for its response, but Putin claimed early measures by the government helped save "tens of thousands of lives" of Russian citizens.
