On Oct. 29, RUS GVT amended tax code of the Russian Federation.
RUS GVT issued law 362-FZ on amendments to the tax code of the Russian Federation.
Key Points
The law establishes a VAT rate of 10% for taxation of transactions involving the sale of breeding products and the import of such products into the territory of Russia.
The law states that one-time compensation payments received by cultural workers within the framework of the state program are exempt from personal income tax.
It establishes obligation of a professional participant in securities market, recognized as a tax agent accounting for when determining the tax base for personal income tax.
In addition, according to the law, the tourist tax is included in the single tax payment.
Effectiveness
The law enters into force immediately upon publication but establishes that from Jan. 1, 2025 the automated simplified tax system can be used across Russia regionally.
