Bloomberg News

Putin Says Luxury Tax Is Levy on ‘Vanity’ That Hurts Investment

February 09, 2012

Feb. 9 (Bloomberg) -- Russia plans to introduce a tax on luxury goods that would serve as a levy on vanity purchases made instead of investment, Prime Minister Vladimir Putin said.

The tax won’t be a significant source of revenue for the budget, Putin told business leaders at a meeting in Moscow today.

To contact the reporter on this story: Anton Doroshev in Moscow at adoroshev@bloomberg.net

To contact the editor responsible for this story: Scott Rose at rrose10@bloomberg.net


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