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Macroeconomic benefits from the VAT increase from 18 to 20%

The Government suggested to raise the value added tax (VAT) from 18 to 20% as from January 2019.

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Starting 2019, VAT will be added to the Single Agricultural Tax

Starting 2019, agricultural taxpayers will become VAT payers as well, required amendments to the chapters 21 and 26.1 of the RF Tax Code have been drafted and are about to come into effect.

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The Ban will Make the Russian Economy Even More Primitive

The draft law on anti-US sanctions will be considered by the State Duma before the end of the spring session. The document will permit the government to introduce a ban or limitations on imports to Russia of agricultural products, food, raw products, medicine (except for preparations which have no Russian analogs), alcohol, tobacco and other US-made goods. Also, the initiative calls for introduction of limitations on cooperation in the nuclear industry, rocket and engine building industry, as well as the aircraft industry.

Read more: The Ban will Make the Russian Economy Even More Primitive

The Quality of Competition in the Banking Sector is Seriously Deteriorating

A license-withdrawing process and procedures for rehabilitation of large Russian banks, such as FK Otkrytie, the Binbank and the Promsvyazbank resulted in worsening of the competition in the banking sector in 2017.

Read more: The Quality of Competition in the Banking Sector is Seriously Deteriorating

The Potential Robotization and the Economy of Ignorance in Russia’s Regions

Numerous researchers declare that a new industrial revolution has begun. Development of modern technologies and introduction of robots may cause sporadic growth in technological unemployment.

Read more: The Potential Robotization and the Economy of Ignorance in Russia’s Regions