- Russian Ministry of Finance updates VAT repayment rules for entities transitioning to simplified tax system
- Those with income over RUB 60 million will be classified as VAT payers
- Reduced rates of 5% for income up to RUB 250 million and 7% for income exceeding that
- Entities opting for standard VAT rate will be liable for 20% (or 10% for certain goods) and allowed to deduct VAT
- Businesses transitioning to simplified tax system must repay previously deducted VAT amounts if income was up to RUB 60 million or subject to reduced rates
- Those with income over RUB 60 million adopting general VAT rate not required to repay previously claimed VAT amounts
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Russia"
- Russia Proposes 2026 Tax Relief and Flexible Rules to Support SME Transition
- Russian Finance Ministry Explains New VAT Rate Impact on Lease Accounting Under IFRS
- Catering Businesses to Be Exempt from VAT Starting April 1 Under New Tax Law Amendments
- Are Educational Services Provided by Medical Institutions Subject to VAT?
- New VAT Return Form and Rates for Q1 2026: Updated Requirements and Control Ratios
