Russian government proposes to raise VAT to 20 pct from 18 pct


Russia’s government has proposed raising value-added tax (VAT) to 20 percent from 18 percent, starting from 2019, Prime Minister Dmitry Medvedev said Thursday.

Medvedev said the so-called “tax manoeuvre”, which envisages a gradual increase in the mineral extraction tax (MET) and a cut in export duties on oil and refined products, was on track to be completed in 2024.