States enter in treaty to synchronise VAT rules and compliance
Russia and Belarus have agreed to synchronise their VAT and excise rules to help support intra-state trade. Measures include:
- Minimum standard VAT rate of 20%; lower VAT rate 10%
- Confirmation of exempt supplies
- Harmonisation of reduced VAT supplies and rates
- Oversight of disputes by new joint Supranational Tax Committee
- List of supplies subject to excise duties
- Minimum excise duties agreement
- Integrated IT system for data capture and sharing
- Agreement on audit and other mutual assistance between tax authorities
The above measures will come into force from 1 January 2023.
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