VAT News

Russia-Standard rate to increase

Last week, the Russian parliament gave their approval to a rise in the standard rate of VAT applicable in Russia. The current rate of 18% will rise to 20% with effect from 1 January 2019. Any supplies from this date will be subject to the new rate, even where contracts were concluded prior to 1 January 2019.

The reduced rate of 10% will remain unchanged.

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