Taxes 3.0: Tax Amendments Package in Autumn

A new 210-page long bill proposing multiple tax initiatives has entered the Russian State Duma.

While some initiatives were unveiled before, others became quite a surprise.

The key amendments include:

• Higher VAT rate

• Reduced IT incentives

• Higher social security contribution rates for SMEs

• Lower income threshold triggering VAT for the Simplified Tax System (STS) users

• Broader access to the tax monitoring regime and many more

Most amendments are scheduled to take effect immediately at the start of the next year.

Let us have a closer look at the changes in the pipeline.