- Russia will phase in lower VAT thresholds for small businesses from 2026, after backlash from business owners.
- The VAT exemption threshold will drop from 60 million roubles to 20 million in 2026, 15 million in 2027, and 10 million in 2028.
- A moratorium on penalties for first-time tax violations will be introduced for businesses newly subject to VAT.
- The changes are intended to boost state finances for military spending, despite concerns about increased tax pressure on small businesses.
- The government also plans to raise the general VAT rate and introduce a “technology tax” on industrial electronics imports.
Source: globalbankingandfinance.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"
- VAT Declaration Rules Change for Foreign Sellers of Digital Goods and Services in Russia
- Government Expands List of VAT-Exempt Technological Equipment Not Produced in Russia
- Russia Halves VAT Thresholds for SMEs, Eases Tax Burden Over Three Years
- Russia to Gradually Lower VAT Thresholds for Small Businesses After Backlash, Starting 2026
- Russia to Gradually Lower VAT Thresholds for Small Businesses After Backlash
