The Russian Federal Tax Service Jan. 24 posted online Letter No. SD-4-3/17565, clarifying VAT deductions for goods purchased under the simplified taxation system. The clarification explains: 1) VAT deductions are available for the tax period in which a taxpayer changes to the general taxation system from the simplified taxation system, for goods and services purchased while under the simplified taxation system; and 2) the three-year deduction timeframe runs from the time the right to deduct arises, regardless of any transition between the simplified and general taxation regimes. [Russia, Federal Tax Service, 01/24/23]…
Latest Posts in "Russia"
- Putin Approves VAT Hike to 22% in Russia Amid Rising Military Costs and Falling Revenues
- Management Contract Price Increase Due to VAT Requires Approval at General Homeowners’ Meeting
- Russia Raises VAT to 22% from 2026, Introduces New Tax Changes and Benefits
- From 2026, Bank Card Service Fees in Russia to Be Subject to VAT at 22%
- Russia’s Tax Service Publishes Draft VAT Return with New 22% Rate, Effective Next Year
