- Manufacturers of heavy machinery products will receive VAT preferences
- Special conditions for VAT payment for products with a production cycle of over six months
- List of eligible products approved by the Russian government
- Additional seven positions to be added to the list in October 2024
- Taxpayers must keep separate records for products eligible for VAT preferences
- Required to submit contract with buyer and other documents confirming the long production cycle
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.
Latest Posts in "Russia"
- Russian Finance Ministry Suggests VAT on Online Platform Purchases
- Russia’s VAT Hike to Fund Defense Spending Expected to Increase Inflation by 1% Next Year
- Russia’s SPOT System Boosts VAT Revenue Growth in Federal Budget for Second Year
- Russian Finance Ministry Proposes VAT on Foreign Marketplace Purchases Starting 2027
- Russian Finance Ministry Proposes VAT on Foreign Goods from Marketplaces, Gradual Rate Increase Planned
