Russian President Vladimir Putin signed a decree on conducting an experiment to postpone payment of value-added tax imposed by customs when importing goods into Russia. The experiment will continue until June 30, 2027.
When importing goods into Russia, companies will be able to defer paying VAT for a maximum of three months. The decree stated that the postponement would be provided without payment of interest.
how Notes RBC, legal entities that:
- To be included in the register of authorized economic operators and (or) in the list of organizations of systemic importance for the Russian economy;
- work on the general tax system (OSNO), that is, they pay internal VAT;
- and the sale of imported goods for which a deferment has been granted, either to individuals who are not individual entrepreneurs, or to enterprises located in OSNO.
Deferral of payment of tax to customs authorities is provided. It only applies to imports from countries outside the Eurasian Economic Union, because when importing from the Eurasian Economic Union, the tax is paid directly to the tax office.
Currently, companies that import goods for sale within the country pay the full tax up front – before submitting the customs declaration. That is, the importer must have in his personal account a sufficient amount to pay the VAT.