The main factor stopping Russians from betting more on gold is that Russia has the highest rate of value added tax (VAT) levied on gold bullion bars (20 percent), the WGC found. Lack of necessary knowledge around how to invest in gold, and a fear of being sold fake or counterfeit gold products, are other key barriers to demand for the precious metal on the Russian market.
Source: rt.com
Latest Posts in "Russia"
- VAT on Property Transfer to Withdrawing LLC Members: Recent Russian Court Practice and Tax Base Determination
- Russia is set to increase its standard VAT rate from 20% to 22% starting in 2026
- Russia Faces Economic Uncertainty Amid VAT Hike Plans and Escalating US Sanctions
- Russian IT Industry Retains VAT Exemption, Easing Tax Pressure on Software Developers
- Russian Government Delays Removal of VAT Break for Domestic Software Developers


 
        		 
        	











