Russia Proposes VAT on Foreign Marketplace Goods from 2027
The Russian Ministry of Finance has proposed introducing Value Added Tax (VAT) on foreign goods purchased from marketplaces starting from 2027. This move aims to align with the Eurasian Economic Union's (EAEU) norms and could significantly impact consumer prices. Currently, VAT is not applied to foreign goods, leading to a price difference between domestic and imported products. The new measure will impose a VAT rate starting at 5% in 2027, increasing to 20% by 2030. This will add a substantial fee to customs operations, increasing the price by 50% on goods not exceeding EAEU import norms. The Ministry of Finance believes this change will not significantly impact prices due to supplies from China, as stated by Tagir Kalimullin. However, consumers can expect to pay more for imported goods, with a purchase of 1,500 rubles potentially costing an additional 75 rubles in VAT and 689 rubles in fees, totaling 2,260 rubles. The introduction of VAT on foreign goods from marketplaces is set to reshape Russia's consumer market. While the impact on prices is debated, consumers should prepare for higher costs on imported goods starting in 2027.
