MOSCOW (Reuters) - President Vladimir Putin has decided to introduce a sales tax on Russian consumers, two sources acquainted with the issue said on Thursday, raising the tax burden earlier than expected as Western sanctions deepen the country's financial woes.
The levy will be applied on a region-by-region basis, allowing each administrative district to decide on a sales tax of up to 3 percent to make up for budget shortfalls, which the Finance Ministry estimates will reach up to 1 trillion roubles (£16.6 billion) in the next three-year budget.
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