June 14, 2018 / 10:04 AM / 2 months ago

Russian government proposes to raise VAT to 20 pct from 18 pct

MOSCOW, June 14 (Reuters) - Russia’s government has proposed raising value-added tax (VAT) to 20 percent from 18 percent, starting from 2019, Prime Minister Dmitry Medvedev said on Thursday.

Medvedev said the so-called “tax manoeuvre”, which envisages a gradual increase in the mineral extraction tax (MET) and a cut in export duties on oil and refined products, was on track to be completed in 2024. (Reporting by Polina Nikolskaya and Andrey Ostroukh Writing by Maria Tsvetkova Editing by Gareth Jones)

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