Russia: State Duma approves draft tax code amendments in first reading
State Duma approves draft tax changes to fund defence, national projects, and social benefits. The Russian State Duma approved in first reading a draft law introducing wide-ranging amendments to the Tax Code on 22 October 2025. Finance Minister
See MoreRussia, South Ossetia explores creation of special economic zone
Russian Deputy Minister of Economic Development led a delegation to South Ossetia to review investment projects, explore a special economic zone, and strengthen trade and economic ties. A Russian delegation led by the Deputy Minister of Economic
See MoreRussia: State Duma approves draft law on financial platform transactions
State Duma approved a draft law letting platforms trade their own securities. The State Duma, the lower house of the Federal Assembly of Russia, has recommended a draft law, granting financial platform operators the right to participate in
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Russia: State Duma approves VAT exemption for precious metal deposits
State Duma approved a draft law exempting banks from VAT on interest paid in precious metals, aiming to boost deposits and reduce legal disputes. Russia's lower house of the Federal Assembly (State Duma) approved at first reading a draft law that
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Russia: State Duma reviews draft 2026–2028 federal budget
Russia’s State Duma committee began reviewing the 2026–2028 federal budget, focusing on social spending, defence, regional development, and technological leadership. The Russia’s State Duma Committee on budget and taxes has begun
See MoreRussia: SMEs in the hotel industry to receive over RUB 85 billion in government support until 2030
Russia plans to channel over RUB 85 billion to nearly 2,500 hotel SMEs by 2030 through the National Guarantee System, boosting tourism infrastructure and supporting new and existing hotels. The Russian government plans to channel more than RUB 85
See MoreRussia extends export duties on sunflower seeds, products until 2028
The export customs duty on sunflower seeds will remain at 50%, but not less than RUB 32,000 per tonne. For sunflower oil and sunflower meal, a “floating” export duty will continue to apply, calculated as 70% of the difference between the
See MoreRussia: MoF presents various tax reforms, includes VAT increases as part of 2026 budget package
The budget proposals include a standard VAT rate hike from 20% to 22%, and the simplified VAT threshold will drop from RUB 60 million to RUB 10 million, amongst others. Russia’s Ministry of Finance has submitted a series of draft laws to the
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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
See MoreRussia: 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
See MoreRussia: 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
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