MOSCOW, Jun 18 (PRIME) -- Russian Prime Minister Dmitry Medvedev has signed a ruling to submit a bill on raising value-added tax (VAT) to 20% from 18% to the State Duma, the parliament’s lower house, the government’s press office said on June 16.
The VAT increase will bring 620 billion rubles of additional revenues to the federal budget annually starting from 2019, according to an explanatory note to the bill.
(62.6851 rubles – U.S. $1)
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