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"
- Russia Approves Taxation on Crypto Transactions, Exempts Some Services from VAT
- Temporary VAT Exemption for Cafes and Restaurants on Simplified Tax System in 2026
- Russia Proposes Gradual VAT Introduction for Cross-Border E-Commerce Goods Starting 2027
- Russia Requires Updated VAT Return Form for Q1 2026 Due to Rate Increase
- EU adopts 20th package of sanctions against Russia
