The Federation Council approved the law increasing VAT to 20%
On July 28, the Federation Council approved the government bill to increase VAT from 18% to 20%, adopted by the State Duma on July 24. The law comes into force on January 1, 2019. Interfax The government announced the decision to increase VAT in June, at the same time as the decision to raise the retirement age . According to the Ministry of Finance, the VAT increase will bring the federal budget an additional 634 billion rubles in 2019, 678 billion in 2020 and 728 billion in 2021.