23 May 2024 12:02

Russia's Finance Ministry supports keeping current VAT rate - Siluanov

MOSCOW. May 23 (Interfax) - The Ministry of Finance supports the proposal from deputies and businesses to maintain the VAT rate at the current level, which is important for controlling inflation, Finance Minister Anton Siluanov said at parliamentary hearings in the State Duma.

"We support the proposal from deputies and businesses, voiced as part of the consultations, not to increase the VAT rate," he said.

"Because in current conditions, this [if the rate were raised] could affect the increase in inflation," Siluanov said.

The base VAT rate in Russia is 20%.