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    Putin calls idea of luxury tax reasonable, but stresses ‘not to overdo it’

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    By Tass

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    Putin calls idea of luxury tax reasonable, but stresses 'not to overdo it'

    NOVO-OGARYOVO, September 18. /TASS/. The idea of a luxury tax is reasonable, but when implementing it, the key is “not to overdo it,” President Vladimir Putin said during a meeting with leaders of parliamentary factions.

    “Regarding other fiscal matters – taxation of dividends, a luxury tax, and so on – overall, everything seems very reasonable. The important thing here is not to overdo it,” he said.

    Putin cited the United States as an example, which raised taxes on high-income citizens during the Vietnam and Korean Wars. “In principle, we do the same. Overall, when people see that their funds are ‘earmarked’ for a specific noble purpose, our citizens tend to be very patriotic and not greedy,” the president noted.

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