- Starting in 2026, services related to the maintenance of bank cards in Russia will be subject to VAT at a rate of 22%.
- The exemption from VAT will be removed for card servicing, acquiring (card payment acceptance), and processing services.
- The new tax applies to services provided by banks and payment operators, not to the card payments themselves.
- Experts predict this will lead to higher bank fees for businesses and individuals.
- Other banking operations, such as account opening, deposits, and cash services, will remain VAT-exempt.
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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