Putin set to abolish inheritance tax in Russia

Putin set to abolish inheritance tax in Russia

[JURIST] Russian President Vladimir Putin [official website, English version] is set to sign into a law a measure passed by both houses of the Russian parliament that will abolish the country's inheritance tax, according to reports on Monday. After Putin made the proposal in an April address his plan was swiftly enacted, receiving 414 votes of approval in the 450-seat lower house and garnering widespread public support. A small group opposed the law, claiming it benefitted only the few richest people. The US debate over its inheritance taxes [Wikipedia backgrounder] has prompted change, but so far nothing as far-reaching as this Russian initiative. MosNews has local coverage.