Russian VAT rates and VAT compliance

There are detailed rules controlling the recording and processing of Russian transactions. These include guidelines on:

• Russian invoice requirements;
• Foreign currency reporting and translation;
• Reverse charge rules and application;
• Credit notes and corrections; and
• What accounting records must be maintained.

The standard rate of VAT is 20%.

Periodic VAT returns must be submitted by all companies with a Russian VAT number, detailing all taxable supplies (sales) and inputs (costs). Returns are generally filed quarterly. Returns and any associated VAT liability are due by the 20th of the month following the period end.

Companies can opt to file VAT returns online or on paper, although in certain situations online filing is compulsory.

In Russia non-residents are not entitled to recover input VAT if they are not registered as a taxpayer in Russia.