Ministry of Finance of Russian Federation initiated the imposition of the additional sales tax

14.08.2014

Russian Ministry of Finance proposed to the Government a project of the law on imposing of additional sales tax. Supposedly this tax shall be imposed since the beginning of the next year.

The Bill imposes a maximum tax rate of 3%. The actual tax rate, which cannot exceed 3%, will be decided by the regions of Russian Federation. The tax shall bring additional revenue of almost 200 billion rubles to the budget.

The Bill also considers exemptions from the taxation. So, children shoes, medication, several foods, communal services and services of the house lease, tourist services and services provided by non-commercial organizations are exempt from the taxation.

Source: http://rg.ru/2014/08/13/nalog-site.html

Expert’s opinion

Sanctions has not gone without consequences. What is lost in one sphere shall be gained in another one. Surely, for the consumers imposition of the new tax is not going to be something good. It is just the raise of the prices, additional costs – nothing more. It is encouraging that such important things as children shoes, medication, etc. are being protected from this tax. However, in any case, we shall see until the next year, because the situation in the world is changing not by days, but by hours.

Alexandra Mihno ( Lawyer, Honest & Bright)