State Duma Passes Bill Delaying VAT Tax Hikes for Small Businesses - The Moscow Times

The State Duma on Wednesday passed a bill that would temporarily protect small businesses from a planned tax hike by freezing a key revenue threshold through 2029. Under the legislation, small businesses using Russia’s simplified tax system would only have to pay the national value-added tax (VAT) if their revenue exceeds 20 million rubles ($260,000). If passed in the upper-house Federation Council and signed into law, the delay would reverse a law signed by President Vladimir Putin in November that had ordered a gradual, year-by-year reduction of the VAT tax exemption threshold to pull more small businesses into the tax pool.

Raccontata dathemoscowtimes.com