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Russia Planning to Move Forward with Cut in Social Security Rate and Increase in VAT Rate

|Proposed Changes|Russia
Russia

According to a recent article in the Russian government gazette, the government will be moving forward with plans to reduce the combined social security contribution rate from 30% to 22% while offsetting the cut with an increase in the standard value added tax (VAT) rate from 18% to 22%. The planned changes are to take effect from 1 January 2019.

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