Russia VAT returns changes

There are a number of changes proposed to the Russian VAT:

• Valid VAT invoices received after a period end but prior to the VAT return submission date may now be included in the filing
• The VAT filing deadline has been moved from the 20th to the 25th of the month following the reporting period end
• New disclosure requirement for invoices.

Russian VAT returns are generally submitted on a quarterly calendar basis, with any VAT payment due on the same day.  The Russian Federation does allow for resident companies to offset any VAT due against any other tax liabilities, including corporate income tax.  All companies must file electronically, based on authorized software, since the beginning of this year.