Superyacht: Putin elaborates on luxury tax

Russia`s Prime Minister and presidential candidate Vladimir Putin has elaborated on his previously made initiative to impose taxes on luxury goods.

Speaking to his election agents on Tuesday, Putin said that taxes should be imposed only on goods purchased for personal overconsumption – huge villa, private aircraft, very expensive yachts and cars.

Mr. Putin added, however, that the money owned by a firm and then spent on industrial development, or the creation of new job places, must not be taxable.  

(TASS)