Laws on increasing VAT and retirement age entered into force in Russia
From January 1, the law comes into force, according to which the retirement age in Russia will increase to 65 years for men and 60 for women. The reform will take place in stages and should end in 2028. For early retirement, men will need to accumulate 42 years of pension experience, women - 37 years. Also, from Tuesday in Russia, a tax rate on the additional value increases to 20 percent. VAT is an indirect tax that the consumer of goods, work or services pays the seller.