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Russian Government Plans to Revoke VAT Exemptions for Bank Card Transactions

  • The government plans to remove VAT exemptions for bank card operations.
  • Changes will not affect the opening and maintenance of bank accounts.
  • The VAT rate may increase from 20 percent to 22 percent.
  • A 10 percent reduced rate will remain for essential goods.
  • New tax regulations for various sectors and income thresholds are proposed.

Source: garant.ru

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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