According to INTERFAX.RU, President of Russia Vladimir Putin signed the law, stipulating the raise of the valued added tax (VAT) from 18% to 20%, the document is published on the official portal of the legal information.
The Law on Introducing Amendments to Separate Legislative Acts of the Russian Federation On Taxes and Duties was adopted by the State Duma on July 24 and approved by the Council of Federation on July 28.
Reportedly, according to the financial economic justification for the law, the VAT raise by 2 percent points will lead to additional budget revenues, amounting to 620 bln rubles per year.
The document also sets, on the regular basis, the insurance premiums for mandatory pension insurance, amounting to 22% within the set base value limits for calculating insurance premiums on this type of insurance and 10% - above the set maximum amount.
