- Russia will increase its value-added tax (VAT) from 20% to 22% starting January 1, 2026.
- The 10% reduced VAT rate for socially important goods like food, medicines, and children’s products will remain, but some dairy products are excluded and will be taxed at 22%.
- The tax increase is expected to generate nearly 1.2 trillion rubles in additional revenue in 2026.
- The extra funds will primarily be allocated to defense and security, especially for the war against Ukraine.
- Military spending will remain a top priority in Russia’s budget for at least the next three years.
Source: kun.uz
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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