Kremlin: Duration of 22% VAT Rate Still Uncertain, 10% Preferential Rate Remains

• The duration for keeping the VAT rate at 22% is currently unknown.
• The VAT rate was increased from 20% to 22% starting January 1.
• A preferential 10% VAT rate will continue for essential foods, drugs, children’s goods, and certain other items.
• The decision to raise VAT was deemed necessary and justified by the authorities.

Source: tass.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.

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