The luxury tax which Russia intends to introduce will be collected through real estate and transport taxes, Finance Minister Anton Siluanov said on Friday.
Prime Minister Vladimir Putin suggested this January raising taxes for people who own luxury apartments, a lot of valuable land, planes, yachts and luxury cars from 2013.
"We are likely to collect a tax on luxury cars through transport tax. We could make a higher (tax) level for cars with greater engine capacity and horse power," Siluanov told reporters.
As of the duty on luxury real estate property, the property tax will be collected on the basis of the current market value. The minister also said that the new tax would not affect the disadvantaged.
"Maybe, there will be a discount for the disadvantaged who own big flats. We will think about it," Siluanov added.
