Russian Ministry of Finance Proposes VAT Rate Increase and Other Tax Measures for 2026-2028 Budget

Russia's Ministry of Finance has announced the submission of a package of draft bills for the 2026-2028 budget, including amendments to the Tax Code. One of the main measures is an increase in the VAT rate from 20% to 22%, while retaining the reduced 10% rate for essential goods like food, medicines, and children's products. It is also proposed to reduce the VAT threshold for small taxpayers under the simplified tax regime from RUB 60 million to RUB 10 million. Other measures concern the gam…