- The Russian government is considering increasing taxes to address the budget deficit. The value-added tax is the largest revenue source for the treasury. Officials plan to present the draft budget to parliament on September 29 with key provisions already approved by Vladimir Putin. There is a discussion about raising the VAT to 22% from the current 20%. VAT is expected to generate nearly 37% of federal budget revenue in 2024.
Source: caliber.az
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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