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Russia Rules Out VAT, Personal Income Tax Changes

by Tatiana Smolenska, Tax-News.com, Moscow

18 September 2014


Russia, which previously was said to be considering a new regional sales tax for introduction in 2015, has ruled out a change to the value-added tax regime, after the nation was reportedly considering a two percent value-added tax hike.

In an interview with Russia-24, Russia's Deputy Prime Minister, Igor Shuvalov, said that the Government aims to keep the personal income tax regime and the VAT regime consistent until 2018.

A consumer sales tax, to be administered by Russian regions at a rate of three percent, was ruled out by Shuvalov, despite being reportedly endorsed by Russian President Vladimir Putin. Concerns were raised that the levy, which was to be similar in design to a levy that was abolished ten years ago, would be found to be unconstitutional, as the Supreme Court had earlier ruled in the case of the previous levy.

In August, Russia's Prime Minister, Dmitry Medvedev, said that next year's budget may have to include tax increases, describing such as a last resort in the face of sanctions against Russian companies and the country itself.

TAGS: Russia | tax | economics | value added tax (VAT) | sales tax | budget | tax rates | individual income tax

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