VAT in Russia could be cut to 12%-13%

Business Materials 9 February 2008 02:25 (UTC +04:00)

( Interfax ) - The value-added tax (VAT) rate in Russia could be reduced to 12%-13% from the current 18%, said presidential expert department head Arkady Dvorkovich.

Taking questions from journalists at a news conference on Friday, Dvorkovich said, "There has been talk about reducing the rate to between 10% and 16%. Specialists believe that reducing VAT to 14%-15% from 18% makes no sense, as this would not change the VAT's administrative essence."