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Finance ministry says cannot offer zero VAT for all industries

MOSCOW, Mar 11 (PRIME) -- The Russian Finance Ministry can consider setting a zero value-added tax (VAT) for some industries but cannot apply it to all of them, Deputy Minister Alexei Sazanov said on Friday.

"VAT accounts for 5% of the gross domestic product (GDP), this is a significant revenue source for the budget, this is why we cannot annul it for all industries,Ф the official said.

УWe are ready still to consider clear proposals if any, depending on the economic balance and budget interests."

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11.03.2022 13:51
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