The Russian Finance Ministry has proposed increasing the value-added tax (VAT) to 22% from January 1, 2026, APA's Moscow bureau reports.
The press release on the budget package submitted by the ministry to the government states that the funds collected by increasing the VAT are intended primarily for financing defense and security.
The 10% preferential VAT rate will remain in effect for all socially important goods, including food, medicines and medical products, children's products, and others.
If the proposal is accepted, the amendments to the Russian Tax Code will come into force on January 1, 2026.
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