Russia's Proposed Tax Changes to Fund Defense
The Russian finance ministry plans to increase the value-added tax (VAT) rate from 20% to 22% starting 2026 to balance the budget and finance military expenses. The proposal also suggests increasing taxes on gambling businesses. These measures aim to finance defense and ensure a sustainable budget.
- Country:
- Russia
The Russian finance ministry announced its intention to raise the value-added tax (VAT) from 20% to 22%, effective from 2026. This decision is aimed at balancing the budget and funding military expenditures.
In addition to the VAT increase, the ministry has proposed other tax hikes targeting gambling businesses among others. These steps are designed to bolster defense and security funding.
According to the ministry, the draft budget for 2026 is structured to be both balanced and sustainable, ensuring financial stability while meeting security needs.
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