UPDATE: Medvedev: Russian govt to raise 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

UPDATE: Medvedev: Russian govt to raise VAT to 20% from 18%

(Adds comments in last three paragraphs)

MOSCOW, Jun 14 (PRIME) -- The Russian government has decided to raise value-added tax (VAT) to 20% from 18% currently, Prime Minister Dmitry Medvedev said at a government meeting on Thursday.

УWeТve made the following decisions that are proposed for consideration. The first one Ц the VAT rate will be changed. At present, the basic rate of VAT is 18%. We propose to raise it to 20%,Ф he said.

Incentives on VAT on main services and socially important goods will remain, Medvedev said.

УIn order the burden does not fall on people, all incentives on VAT, on main socially important goods, main services will be kept. These are reduced rates on food products, children goods, pharmaceutical goods and zero rates on domestic interregional air transportation,Ф he said.

First Deputy Prime Minister, Finance Minister Anton Siluanov said that additional budget revenues from the increased VAT rate will amount to over 600 billion rubles annually starting from 2019.

(63.1164 rubles Ц U.S. $1)

End

14.06.2018 13:08
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 79.1749 -0.1846 19 sep
USD 67.7519 -0.4439 19 sep
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1123.03 +2.14 18:50 18 sep
micex 2402.58 +1.21 18:50 18 sep
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 157.08 +1.04 18:49 18 sep
lkoh 4685.00 +1.17 18:48 18 sep
rosn 440.40 -0.20 18:49 18 sep
sber 191.65 +1.88 18:49 18 sep
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 79.1900 -0.2175 14:59 18 sep
USDTD 68.0075 -0.0025 17:44 18 sep