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Russian lawmakers approve tax hike bill to boost economy as the war with Ukraine nears 4 years
Lawmakers approved raising VAT from 20% to 22% and other tax hikes projected to add 1 trillion rubles to the 2026 budget amid economic slowdown and war costs.
- Russian lawmakers approved a value-added tax increase from 20% to 22% as part of new tax hikes to boost the economy during the war with Ukraine.
- The changes are expected to add around $12.3 billion to the state budget and lower the threshold for businesses required to collect VAT.
- Other new taxes target imported vehicles, spirits, wine, beer, cigarettes, vapes and technology items to aid Russia's slowing economy amid military spending.
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The Duma voted in favour of an increase in VAT of two percent. In addition, a number of further tax increases are planned to fill the state treasury. Finally, the Russian economy weakened.
·Hamburg, Germany
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Associated Press News+14 Reposted by 14 other sources
Russian lawmakers approve tax hike bill to boost economy as the war with Ukraine nears 4 years
Russian lawmakers have endorsed new tax hikes as Moscow tries to boost its economy during its almost four-year war with Ukraine.
·United States
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According to the State of Russia, there has been an increase in VAT from 20% to 22% starting with 2026, hoping that this decision will bring $112.3 billion to the budget.
Russian lawmakers approved new tax increases on Tuesday as Moscow seeks new sources of revenue to boost its economy amid its nearly four-year-old war with Ukraine.
·Romania
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Total News Sources18
Leaning Left3Leaning Right2Center9Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 22%
C 64%
14%
Factuality
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