Kremlin spokesman says no talks to raise VAT rate in Russia

MOSCOW, Nov 5 (PRIME) -- There are currently no plans and talks to raise the rate of value-added tax (VAT) in Russia from the current 20%, presidential spokesman Dmitry Peskov told reporters on Tuesday.

Media reported earlier citing the Finance Ministry that the budget will receive over 500 billion rubles in 2019 from raising the VAT rate to 20% from 18% from January 1.

“There is no discussion about a further increase in the rate, there are no plans for this,” Peskov said.

As for the budget revenue, Peskov said this was “the goal of the rate increase.”

(64.0316 rubles – U.S. $1)

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