- Russia is considering raising the VAT from 20% to 22% to address a budget deficit caused by increased war spending. Other tax increases, such as corporate and personal income taxes, are also being discussed. No final decision has been made, but higher taxes are seen as necessary. The VAT, last increased in 2019, is crucial for Russia’s budget, contributing significantly to revenues.
Source: meduza.io
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.
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