Comments

Revenues from Privatization and State Property Management in Draft Federal Budget for 2019-2021

The draft federal budget for 2019 and the 2020-2021 planned period submitted by the Russian Government to the Parliament suggests utilization of funds received from the privatization of federal property as a separate source of the federal budget deficit funding.

Read more: Revenues from Privatization and State Property Management in Draft Federal Budget for 2019-2021

Freelancers will have their own tax regulations

Special tax regulations for freelancers, i.e. individuals making their living on their own without engaging labor could be introduced in Russia already in 2019.

Read more: Freelancers will have their own tax regulations

Macroeconomic benefits from the VAT increase from 18 to 20%

The Government suggested to raise the value added tax (VAT) from 18 to 20% as from January 2019.

Read more: Macroeconomic benefits from the VAT increase from 18 to 20%

Evaluation of tax breaks and exemption may become a part of the budgetary process in the Russian Federation

In September 2018, the Government of Russia submitted a draft of the federal law envisaging evaluation of the shortfall in budget revenues from tax breaks and exemption as well as their control in the budgetary process along with direct budgetary expenditures, to the State Duma of the Russian Federation. These amounts will be accounted as tax expenditures.

Read more: Evaluation of tax breaks and exemption may become a part of the budgetary process in the Russian...

Starting 2019, VAT will be added to the Single Agricultural Tax

Starting 2019, agricultural taxpayers will become VAT payers as well, required amendments to the chapters 21 and 26.1 of the RF Tax Code have been drafted and are about to come into effect.

Read more: Starting 2019, VAT will be added to the Single Agricultural Tax