On 28 February 2022, the Russian Central Bank has announced the decision to increase the key rate from 9.50% to 20%. The measure was taken in response to the Russian invasion of Ukraine, followed by harsh sanctions and the collapse of the Russian ruble. The key interest rate is used for the purposes of calculating interest deduction and late payment interest on overdue taxes
«
Previous post
OECD: Building an Investment Tax Incentives Database
OECD: Building an Investment Tax Incentives Database
Related Posts
Russia proposes VAT, SME tax changes
September 08, 2026
Russia’s State Duma has received draft law No. 1331250-8, submitted on 2 September 2026, proposing to reduce the
Read More
Russia expands tax monitoring access for legal successors from September 2026
September 07, 2026
Russia has expanded access to its tax monitoring regime from 1 September 2026, allowing legal successors of companies
Read More
Russia: FTS clarifies Pillar Two corporate tax rules for MNE groups
August 31, 2026
Russia has introduced special rules for calculating corporate income tax for members of international groups of
Read More
Russia: FTS to introduce updated 3-NDFL tax return form from September 2026
August 25, 2026
Russia’s Federal Tax Service (FTS) will introduce an updated 3-NDFL tax return form (KND 1151020) from 1 September
Read More
Ferro-silicon duties take effect as EU prepares major chemical controls
August 24, 2026
The week was defined by the activation of previously announced trade defence measures rather than the publication of
Read More
Russia: Government proposes VAT calculation changes
August 10, 2026
The Government of the Russian Federation has submitted draft legislation to amend Article 168 of Part Two of the Tax
Read More