Russia weighs new taxes as budget pressures mount in fourth year of Ukraine war
President Vladimir Putin has hinted at new taxes on the wealthy as Moscow readies its draft budget, while the Finance Ministry moves to shield revenues from oil price swings in the fourth year of the Ukraine war. Russian President Vladimir Putin
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Russia: Bank of Russia reduces key interest rate
Further decisions on the key rate will be made depending on the sustainability of the inflation slowdown and the dynamics of inflation expectations. The Bank of Russia announced, on 12 September 2025, a cut to the key interest rate by 100 basis
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Russia: FTS consults on revising jurisdiction list for CbC report exchange
The deadline for submitting comments is 17 September 2025. Russia’s tax authority, the Federal Tax Service (FTS), has opened a consultation regarding proposed changes to the list of jurisdictions participating in the automatic exchange of
See MoreRussia proposes reduced VAT on essential goods
Russia proposes VAT cut on essential food items, children’s products, periodicals, and medical items. The Russian State Duma received draft law No. 1011590-8 on 8 September 2025, proposing a reduction of the value-added tax (VAT) rate from 10%
See MoreRussia: Central Bank maintains foreign cash restrictions amid sanctions
Russia’s central bank maintains foreign cash limits under sanctions. The Bank of Russia maintains restrictions on cash currency in connection with the sanctions in force against our country, which prohibit domestic financial institutions from
See MoreBahrain, Russia sign mutual customs assistance agreement
The customs cooperation agreement is aimed at enhancing trade facilitation and border security between the two countries. Bahrain and Russia signed an agreement on mutual administrative assistance in customs matters on 18 June 2025. The
See MoreRussia introduces 0% corporate tax, other incentives for International Advanced Development Territory
The law will enter into force on 1 January 2026. Russia’s State Duma approved Federal Law No. 518779-8 on 22 July 2025, amending the Tax Code to establish tax and social contribution incentives for residents of the International Advanced
See MoreRussia: Central Bank cuts key interest rate to 18%
New rate affects tax-related interest and penalty calculations from 25 July 2025. The Russian Central Bank reduced the key interest rate to 18% on 25 July 2025, following a prior cut from 21% to 20% on 6 June 2025. The key rate plays an
See MoreRussia, UAE tax treaty enters into force
The 2025 income and capital tax treaty between Russia and the UAE took effect on 18 July 2025, which replaces the 2011 limited tax treaty. The 2025 Russia–UAE income and capital tax treaty entered into force on 18 July 2025. The new
See MoreRussia: Parliament proposes zero VAT on lightweight drones
The initiative seeks to enhance domestic drone manufacturing, and the zero VAT rate is expected to remain until 31 December 2027. Russia’s parliament has proposed draft law no. 962796-8 aimed at boosting domestic drone production. It proposes
See MoreRussia: Parliament proposes VAT reduction on food products
This proposed legislation aims to lower the VAT rate on certain food items from 10% to 5%. Russia’s parliament has proposed draft law No. 955850-8, which seeks to reduce the VAT rate on specific food products from 10% to 5%. The initiative aims
See MoreRussia ratifies new tax treaty with UAE
Russia ratified its new income and capital tax treaty with the UAE, which replaces the limited 2011 agreement. Russia has enacted Federal Law No. 189-FZ on 7 July 2025. The law was published in the Official Gazette on the same day. The
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Eurasian Economic Union (EAEU), Mongolia sign temporary FTA
The FTA will be valid for three years, with a mutual option to extend for another three years. The Eurasian Economic Union (EAEU), comprising Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia, signed a temporary free trade agreement (FTA)
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Russia: Federation Council ratifies new income and capital tax treaty with UAE
Russia’s Federation Council ratifies law for new income and capital tax treaty with UAE, replacing 2011 agreement. The Russian Federation Council approved the law ratifying the income and capital tax treaty with the UAE on 2 July 2025. The
See MoreRussia ratifies tax treaty with UAE
Russia ratifies UAE tax treaty to prevent double taxation and curb avoidance. The Russian State Duma ratified the agreement with the UAE on the elimination of double taxation with respect to taxes on income and capital on 24 June
See MoreRussia: Federal Tax Service clarifies foreign account reporting rules
Russia clarifies foreign account reporting rules when countries are removed from its financial data exchange list. The Russian Federal Tax Service (FTS) has issued Guidance Letter No. D-4-17/17 on 29 May 2025, clarifying reporting requirements
See MoreRussia expands tax-free zone to bryansk border areas
Russia has extended its Free Economic Zone regime to parts of the Bryansk region bordering occupied Ukrainian territories, granting tax and customs benefits until the end of 2050. Russia has issued Government Resolution No. 854 on 11 June 2025,
See MoreRussia: Central bank cuts key rate by 100 bps to 20% p.a.
Russia’s central bank cut the key rate by 100 bps to 20% on 6 June 2025, maintaining tight policy to control inflation. The Bank of Russia Board of Directors decided to cut the key rate by 100 basis points to 20.00% per annum on 6 June 2025.
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