Overview
- The standard VAT will rise from 20% to 22% on January 1, 2026, with a 10% rate retained for socially important goods.
- Siluanov told RBC the change is expected to add less than one percentage point to inflation.
- He said the government opted for higher taxes instead of increased borrowing to avoid extra pressure on prices and interest rates.
- The ministry reports no early price pass-through so far, contrasting with the 2018–2019 increase that fed into prices in December.
- Siluanov made the comments at VTB’s Russia Calling forum on December 2 and in an interview published December 3.