The folks in Russia aren’t too unfamiliar with luxury. Yet, the commercial luxury market isn’t booming either. So the last thing this sector needed was someone at a position high up there playing Robin Hood.
Unfortunately for them, 2013 will see the introduction of a ‘luxury tax’. This will cover high-end automobiles, lavish housing, luxury products (most probably) and a everything that stinks of splurge-worthy currency. The President of the country, Vladimir Putin himself initiated this idea into action.
Taxing the rich is a good way to help make a balance but who says that everyone who lusts for luxury is rich? This could well mean a common man’s once-in-a-lifetime luxurious trip could be taxed. May be there is a threshold drawn in the minds of those who formulate this law. I hope it doesn’t infect the lords of the States.