Russia VAT

• 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.