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Value Added Tax in Russia
- In most cases, VAT is 18%. Starting January 1,2019 the rate will rise to 20%.
- There are reduced rates of VAT of 10% that refers mainly to children's products and food products.
- VAT is charged on assets and services in Russia as well as on imports into Russia.
- Medications and medical products and technological products are exempt from VAT on being imported.
- Exports are not subject to VAT.
- Income from medications and medical services as well as income from insurance and banking services is exempt from VAT.
- The threshold for VAT registration is a turnover exceeding RUB 2 million in the previous three months.
- VAT returns are made once in a quarter. The payment is made up until the 25th day after the current quarter, paying the VAT due by up to three installments.
Russia Property Tax
- This local tax is imposed on movable and immovable fixed assets,according to their depreciated book value.
- The maximum tax rate is 2.2%.
- Land is exempt from property tax.
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