From bakeries to beauty shops, Russian businesses are feeling the pain from a new wartime tax policy

Denis Maksimov’s bakery in suburban Moscow became famous overnight after he appeared on President Vladimir Putin’s annual call-in show in December. Standing in front of the bakery — called Mashenka, after his oldest daughter -– he pleaded with Putin via video to look into new tax reforms that are significantly increasing the burden on small businesses like his. “We understand very well that it’s not an easy situation for the country. We understand that raising taxes is necessary,” Maksimov said. “We’re looking ahead without optimism, frankly speaking.

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