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…
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…
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…
Businessman Igor Yusyfov’s Fund Energy, which invests in oil production in Russia and the CIS, believes that Russian state-owned oil major Rosneft may buy the government’s 19.5% stake in itself. This plan will help the government receive 700 billion rubles, while Rosneft may sell the shares for a profit. The plan is “weird,” but it…
IMF forecasts of Russia’s GDP have improved immensely since spring of 2016. The IMF has repeatedly improved its forecast for Russia’s GDP dynamics. Now it expects Russia’s GDP to decline by 0.8% in 2016 and to grow by 1.1% in 2017, according to the IMF’s Global Financial Stability Report. In July, in its regular annual…
The International Monetary Fund (IMF) forecasts Ukraine’s GDP at the level of 2.5% in 2017, according to the IMF’s World Economic Outlook. In particular, according to the table with data on CIS countries, Ukraine’s real GDP totaled minus 9.9% in 2015, while in 2016 it is estimated at 1.5%, and is projected at 2.5% in…
The Russian Energy Ministry expects production of hard-to-recover oil reserves to rise by 10-15% in 2016, Deputy Minister Kirill Molodtsov reported. “Our combined amount of production of hard-to-recover oil reserves has increased. Last year it stood at 21 million tons, I think, but this year we will increase it by about 10-15%. This is not…