According to the project, from January 1, 2021, the rate will increase in relation to incomes of citizens exceeding 5 million rubles for the tax period.

President Vladimir Putin came up with a corresponding initiative in June.

He noted that the increased tax will apply only to the amount that exceeds 5 million rubles.

According to the head of state, the additional funds received will be directed to the treatment of children with serious illnesses.