Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Tax Amnesty Sees Jump at Deadline

Russians paid 3.7 billion rubles ($150 million) in taxes last year as part of an amnesty on undeclared earnings, RIA-Novosti reported Friday.

Tax revenue under the program jumped sixfold in December as Russians raced to take advantage of the measure before its Dec. 31 deadline, the news service said, citing data from the Federal Treasury. A total of 28.19 billion rubles ($1.2 billion) of earnings were declared in the amnesty, which ran from March 1.

Moscow saw the most payments -- 2.1 billion rubles ($90 million) -- followed by Chukotka, which is governed by billionaire Chelsea football club owner Roman Abramovich, the news agency said. Payments in the sparsely populated region, jumped from 66,000 rubles ($2,700) to 565 million rubles ($23 million), or nearly triple the amount for St. Petersburg, RIA-Novosti reported.

The government permitted individuals to legalize undeclared income that was earned before 2006 by declaring it and paying a 13 percent tax.