VAT Overview in the Russian Version
VAT is charged on transactions that involve goods and services in Russia or goods imported into Russia.
VAT Calculation
VAT rates in Russia are tiered into three rate levels. Each of these levels can be applied to specific types of goods and services, for example:
- The highest VAT rate is applied to transactions that involve most types of goods and services.
- The mid-level VAT rate is applied to transactions that involve a select group of food products, children’s products, and medical goods.
- The lowest VAT rate is a tax incentive that is applied to exported goods.
There are several business activities that are exempt from VAT in Russia. For example, insurance, banking, and medical transactions are not subject to VAT.
An organization’s VAT liability is calculated as the difference between the VAT due on sales and the VAT from the cost of the goods or services sold. VAT is calculated for a transaction according to the rates and rules that are in effect on the day of the transaction.
VAT Payments
For most organizations, VAT payments are required to be submitted no later than the 20th day of the month. The timely submission of VAT payments is the responsibility of the taxpayer.
See Also
Report VAT to Tax Authorities
Set Up VAT Ledgers
Prepare VAT Entries for Posting
Settlement VAT
Unload books of purchased and sales in XML. VAT Declaration
VAT by customer prepayments
VAT reinstatement
Vendor Tax Agent scheme