Russian finance ministry proposes raising VAT to 22% from 20% from 2026

ReutersSep 24, 2025 6:27 AM

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MOSCOW, Sept 24 (Reuters) - The Russian finance ministry said on Wednesday it was proposing to raise the rate of value-added tax (VAT) to 22% from 20% from 2026 in order to balance the 2026 state budget and fund military expenditure.

The ministry said in a statement it had also proposed other tax increases, including on gambling businesses.

It said the tax hikes would be "aimed primarily at financing defence and security" and that the draft 2026 budget was "balanced and sustainable".

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