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Thursday, November 23, 2017

Peskov: Putin made no decision on VAT increase


Press Secretary of Russian President Vladimir Putin, Dmitry Peskov, said Tuesday that the President has not taken any decision to hike value added tax (VAT) or other tax payments.


photo: Natalia Gubernatorova

Dmitry Peskov

In an interview with RIA Novosti Peskov said that the issue is within the competence of the Cabinet of Ministers.

“Of course, all these issues associated with tax maneuvers and so forth, they are addressed in meetings with the President on economic issues anyway, but I want to remind you that after all it is entirely the prerogative of the government,” he said.

Previously, the newspaper “Vedomosti” said that the theme of the VAT increase was discussed during the meeting, Prime Minister Dmitry Medvedev and Finance Minister Anton Siluanov with Putin.

The reform proposed by the Ministry, assumes that a single rate will take effect from 2017, and by 2019 it will account for 26 percent (29 percent in 2017, 28 percent in 2018).

Developed alternative, which in 2017 is proposed to increase VAT to 20%, 10% preferential rate raised to 12% and from 2019 to start to increase the rate by 2 percentage points per year until it is equal to non-concessional 20%.

source

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