PRESS: Russian government mulls raising VAT to 20% from 18% - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

PRESS: Russian government mulls raising VAT to 20% from 18%

MOSCOW, May 28 (PRIME) -- The Russian government lacks 8 trillion rubles to fulfill a presidential decree on the countryТs development, and about 2 trillion rubles of this sum can be received by increasing value-added tax (VAT) to 20% from 18%, business daily Vedomosti reported on Monday, citing three federal government officials.

An earlier announced retirement age increase can yield 2 trillion rubles for the budget, OFZ government bond placement 3 trillion rubles and an oil tax reform 1 trillion rubles.

The officials said that some of the decisions can be revised.

Two of the officials said that returning to a 20% VAT after a period since 2004 of an 18% VAT is seen as a less sensitive measure than raising the personal income tax or introduction of the sales tax. Nevertheless, this measure withdraws resources from the economy, one of the officials said.

(61.6659 rubles Ц U.S. $1)

End

28.05.2018 13:29
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 72.2440 -0.1162 19 apr
USD 64.0688 +0.1238 19 apr
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1255.25 -0.81 17:54 18 apr
micex 2549.77 -0.72 17:54 18 apr
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 161.22 -1.70 17:38 18 apr
lkoh 5590.00 +0.11 17:39 18 apr
rosn 433.10 -0.78 17:39 18 apr
sber 231.85 -1.05 17:39 18 apr
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 71.9125 -0.2875 14:59 18 apr
USDTD 63.8950 -0.3250 17:44 18 apr