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Ministry of Finance Backs Proposal Against VAT Rate Increase to Prevent Inflation

  • Ministry of Finance supports proposal not to raise VAT rate
  • Minister Anton Siluanov stated that raising VAT may lead to increased inflation
  • Plan to expand boundaries for businesses to apply simplified tax system
  • Introducing duties to pay VAT when raising revenue threshold to align with neighboring countries

Source: akm.ru

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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