Russia’s Finance Ministry has suggested charging from 2018 or 2019 value-added tax (VAT) on goods purchased in foreign online stores, according to a draft tax policy document. “Keeping in mind experience of charging VAT on content sold in Russia by foreign online floors, amendments to the law on taxes and duties will be proposed from…
Russia will introduce labeling for products containing palm oil from January 1, 2017, Agriculture Minister Alexander Tkachyov said. “We continue our fight with palm oil and will introduce a new technical rule, where a bold-lettered writing would be placed on a package or a milk carton, so that it is impossible to miss, that there…
In 2016/2017 MY, Russia plans to export nearly 40 million tons of grains, which will significantly exceed the previous season figures (33.8 million tons), the Minister of Agriculture of the Russian Federation Alexander Tkachev declared. At the same time, the minister forecast the growth of grain shipment rates in November-December 2016. Tkachev has also confirmed…
The Russian government is considering abolishment of a tax on bond coupon income for households, as follows from a fiscal policy draft for 2017-2019. “The risks of loss of personal savings are higher in case of investments in bonds than the risks in case of savings on banking deposits, where there is a system of…
In August Russia exported record high monthly volume of peas – 130.8 KMT. Over the first 2 months of 2016/2017 export shipments of peas rose by 72% to 240 KMT against 139.3 KMT in July-August 2015/2016. Turkey remained the traditional importer of Russian peas over this period, importing 150 KMT – more than third of…
Car producer GAZ Group has signed several memorandums with Kazakhstan’s Semipalatinsky car assembling plant (SemAZ) to organize local assembly of its vehicles, the Russian company said in a statement. “The supply of car kits for mass production of GAZelle Next, GAZon Next and GAZelle Business, and heavy-duty equipment Ural Next, small, medium and heavy-duty buses…
The Purchasing Managers’ Index (PMI) in the Russian services sector decreased to 53 in September from 53.5 in August, according to a Markit research note. The index remained above the 50 mark signaling an overall stagnation of the sector. “Weaker rises in both new business and unfinished work were reported while job cuts were evident…