Russian lawmakers approved a new bill Thursday boosting taxes for those labeled foreign agents by the government.

The bill, which passed its third and final reading in the lower house of parliament, outlines an income tax rate of 30% for individuals with the designation and takes away their right to government tax breaks.

Income tax for most residents ranges between 13% and 22%, depending on their earnings. The 30% tax rate previously only applied to nonresidents who were working for foreign companies.

The bill also bars organizations labeled as foreign agents from applying for reduced corporate income tax rates.

“Those who betrayed our country should not receive tax breaks,” lawmaker Vyacheslav Volodin said in a social media post announcing the bill’s passage. “They will pay higher ta

See Full Page