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Investing.com -- The Russian government is discussing a potential increase in value-added tax (VAT) from 20% to 22% in the 2026 draft budget, according to sources close to the government who spoke to Reuters on Wednesday.
The tax hike is being considered as a measure to finance the budget deficit while maintaining fiscal reserves, though no final decision has been made yet.
When asked about these reports on Thursday, Kremlin spokesman Dmitry Peskov declined to comment directly on the matter. Peskov redirected inquiries to the government, stating that since the government is responsible for drafting the budget, questions about the process should be addressed to them rather than the Kremlin.
The potential tax increase comes despite President Vladimir Putin’s recent directive to the government earlier this month to focus on raising productivity rather than increasing taxes.
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