The authorities decided on the VAT increase

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Photo: Sergey Pyatakov / RIA Novosti

Simultaneously with the bill to raise the retirement age, the government may submit to the state Duma on 14 June the document about the increase in value added tax (VAT) from 18 percent to 20 percent. On Thursday, June 14, writes family-owned Demyan Kudryavtsev, the newspaper “Vedomosti”, citing sources.

Preferential tax rate of 10 percent will be saved yet. “Would have too many negative news,” — said the source publication.

The exemption now applies to food products (except for delicacies), medicines, books, textbooks and children’s products. In 2017, it has cost the budget about 550 billion rubles, in 2018 or 2019, the cost will increase to 600 and 650 billion rubles, respectively.

“The decision to raise VAT is the most efficient for the receipt of additional money and least harmful from the point of view of increasing the tax burden. It does not [need to] touch the preferential VAT”, — said the head of the Duma budget Committee Andrey Makarov.

May 28, “Vedomosti” wrote that the government may receive up to two trillion rubles for six years due to the increase in VAT from 18 percent to 20 percent. The money will go to a new performance of the may decree of President Vladimir Putin, said the newspaper.

In may, Deputy Prime Minister Anton Siluanov said that the government is not going to increase the personal income tax, and the Ministry of Finance is preparing proposals on the tax system for discussion in the state Duma, which should be taken in the spring session — until the middle of July.

Video, photo All from Russia.

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