The value-added tax rate could be raised to 22% next year to boost revenue for defense and social spending
The Russian Finance Ministry has proposed raising the value-added tax rate in 2026 in a draft budget. The move is designed to boost state revenues and direct more money to defense and social support, according to the ministry.
The Finance Ministry said the standard VAT rate would rise from 20% to 22%, bringing in around 1 trillion rubles ($11.9 billion) in extra revenue. It said the funds would be used to equip the armed forces, pay military salaries, support families, and modernize defense enterprises. The measure is part of the federal…
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