Awara — Russia Passes Law Raising VAT to 20%

Summary:
Yesterday the State Duma in the third and final reading passed a bill increasing the rate of Value Added Tax from 18% to 20%. The increase will be effective starting from January 1, 2019. At the same time, Russian government is planning to keep the current reduced VAT rates (10% and 0%) for socially important goods and services. Thus, by the end of 2019 the budget will receive an additional RUB 620 bln, which will be used to implement President Putin’s spending plan.... AwaraRussia Passes Law Raising VAT to 20% Awara Group

Topics:
Mike Norman considers the following as important: Russia, Russian economic policy, VAT

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