Russian President Vladimir Putin on Wednesday proposed various unconventional em...
MOSCOW - Russian President Vladimir Putin on Wednesday proposed various unconventional emergency social measures to support families and businesses amid the global coronavirus outbreak, such as a week-long holiday for workers and higher taxes on dividends.
Russia has reported 658 cases of coronavirus, with Wednesday seeing its sharpest increase in new cases, and says nobody has died. But the economy has been hit by prolonged uncertainty over coronavirus and tumbling oil prices, which has seen the rouble fall to four-year lows. “It is now crucial to prevent the threat of the disease spreading rapidly. Therefore I declare next week a non-working week with pay.”
To combat capital outflows, Putin said all interest and dividend payments that leave Russia should be subject to 15% tax, up from the current level of 2%.
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