Shokhin warned of the consequences of a possible increase in VAT.

      An increase in value-added tax, if such a decision is made, will lead to higher inflation and an increase in the key rate in the Russian Federation. This was warned by the head of the Russian Union of Industrialists and Entrepreneurs, Alexander Shokhin, at the I International Economic Forum in Tskhinval, TASS reports.

      "Well, you know, the most unpleasant tax innovations for business (and for the population as well, the end consumers) are if the value-added tax is raised," emphasized the head of the RSPP.

      "An increase in VAT can lead to this — after all it is refunded along the chain, but the end consumer pays it. That is, prices, including retail prices, will rise. Again inflation, again an increase in the rate, and so on," Shokhin explained the negative consequences of this measure in more detail.

      The I International Economic Forum was held in the capital of South Ossetia, Tskhinval, from September 18 to 20.

      Earlier, Reuters reported, citing anonymous informed sources, that the Russian Government is discussing the possibility of raising VAT from 20% to 22%. The interlocutors told the publication that adopting this measure would halve the projected budget deficit for 2026 (due to an additional 1–2 trillion rubles in tax revenues).

      Photo: kremlin.ru

      More news about the event:

      Shokhin warned about the consequences of a possible VAT increase

      An increase in value-added tax, if such a decision is made, will lead to higher inflation and an increase in the key rate in the Russian Federation. 10:36 21.09.2025 IA Tatar-inform - Kazan

      Head of the RSPP Shokhin on the idea of raising VAT in Russia: "Unpleasant tax innovations"

      If Russia raises value-added tax (VAT), it could lead to higher inflation and an increased key rate. 09:41 21.09.2025 Business Online - Kazan

      News from neighboring regions on the topic:

      A threat of rising inflation was seen in the VAT increase

      Head of the RSPP Shokhin: VAT increase will provoke a new wave of inflation. Photo: istockphoto.com/ArtemSam Author: 13:58 21.09.2025 Regions.Ru - Moscow Region

      Shokhin warned of the risks of rising inflation and the key rate after a VAT increase

      As noted by the head of the Russian Union of Industrialists and Entrepreneurs, retail prices may also rise. 11:10 21.09.2025 Govorit Moskva - Moscow

      Mikhail Kostrikov. Taxation — on demography and the unity of the country

      As reported by some media, the government is discussing an increase in value-added tax (VAT). 09:40 21.09.2025 CPRF - Vologda

      Will prices for goods rise? The Ministry of Finance raises VAT to 22%

      Russia will increase VAT from 20 to 22% — this will lead to price increases for a huge number of goods and services, report "Vesti:Primorye". 12:15 21.09.2025 GTRK Vladivostok - Vladivostok

      In Russia VAT may rise to 22%

      VAT in Russia may be increased for the first time since 2019

      Some media report that the Russian government is considering raising value-added tax (VAT) to replenish the budget. 04:04 21.09.2025 2Goroda.Ru - Sovetsky

      Shokhin expects the Central Bank’s key rate to fall to 15% by the end of the year

      President of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin predicts the Bank of Russia will reduce the key rate to 15% per annum by the end of 2025. 14:12 20.09.2025 GAZETA.SPb - Saint Petersburg

      How an increase in VAT could affect Russians?

      The last time VAT was raised in Russia was in 2019 — from 18% to 20%. 13:26 20.09.2025 RuInformer.Com - Sevastopol

      The Central Bank’s key rate forecast to gradually decline by year-end

      President of the RSPP Shokhin: The Central Bank will lower the key rate to 15% by the end of the year. Photo: mediastock.rf Author: 12:10 20.09.2025 Regions.Ru - Moscow Region

      In Russia VAT may rise to 22%

      Photo: freepik.com

      Some media report that the Russian government is considering raising value-added tax (VAT) to replenish the budget. 10:48 20.09.2025 IA SIA-Press - Surgut

      Preparing for an increase in the tax burden? VAT rate

      As some media report, the Russian government is discussing raising the VAT rate by 2 percentage points to 22%. 12:23 20.09.2025 SIA.RU - Irkutsk

      The Government of the Russian Federation is considering raising VAT from 20 to 22%

      The Russian Ministry of Finance is considering raising value-added tax (VAT) from 20% to 22% to reduce the budget deficit. 01:41 20.09.2025 IA Public News Service - Moscow

      The Bank of Russia called the key rate a "fever reducer" for the economy

      The Central Bank said that high inflation is more dangerous for business than higher rates. Photo: Istock/Vladislav Zolotov

      The Bank of Russia stated that it is maintaining a high key rate. 21:29 19.09.2025 RTV-Moscow Region - Moscow Region

      Russian authorities may raise VAT to 22% — media

      The Government of the Russian Federation is discussing the possibility of raising value-added tax. 06:19 20.09.2025 IA Kam 24 - Petropavlovsk-Kamchatsky

      The Central Bank denied using AI when making decisions on the key rate

      The Bank of Russia responded to a question about the use of artificial intelligence in decisions on the key rate and inflation forecasts. 19:19 19.09.2025 IA Public News Service - Moscow

      When organizations on the simplified tax system using a special rate can issue invoices with the general VAT rate

      A special VAT rate of 5 or 7% should be applied for at least 12 consecutive quarters starting from the period for which the first declaration with the specified rate is submitted. 17:16 19.09.2025 Korenovsky District - Korenovsk

      Significant VAT increase in Russia: what will change for consumers

      Photo: pixabay.com

      The Russian Ministry of Finance has announced substantial changes in the country’s tax policy. 21:06 19.09.2025 PrimPress.Ru - Vladivostok

      When organizations on the simplified tax system using a special rate can issue invoices with the general VAT rate

      A special VAT rate of 5 or 7% should be applied for at least 12 consecutive quarters starting from the period for which the first declaration with the specified rate is submitted. 12:54 19.09.2025 Dinskoy District - Dinskaya

      Taxation — on demography and the unity of the country

      Based on materials published on the Pravda newspaper website

      Author of the article — Mikhail Kostrikov

      As reported by some media, the government is discussing raising value-added tax (VAT). 12:45 19.09.2025 CPRF - Moscow

      The Russian Ministry of Finance expects a key rate of 12–13% next year

      The Russian Ministry of Finance, when preparing the federal budget for 2026, assumes that the Bank of Russia’s key rate will be around 12–13%. 10:12 19.09.2025 RuInformer.Com - Sevastopol

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