The Ministry of Finance has calculated the losses of the state budget from the abolition of VAT for public catering


The Ministry of Finance of Russia has calculated the losses of the state budget from the abolition of VAT for the restaurant business. During the experiment, they will amount to 127.3 billion rubles.

The Ministry of Finance has calculated the losses of the state budget from the abolition of VAT for public catering

The next year, losses will reach 38.7 billion rubles, in 2023 – 42.4 billion, and in 2024 – 46.2 billion. This follows from the report on the assessment of tax expenditures of the federal budget, with which got acquainted “Notices”.

This is only a small part of the shortfall in treasury revenues from VAT benefits. Together, they will amount to 7.1 trillion rubles by 2024.

The department informed the publication that the changes made are not limited to any specific period. And the assessment of tax expenditures of the federal budget is carried out in accordance with a planning period of three years.

Alexander Osin, an analyst at the Freedom Finance department of trading in the Russian stock market, believes that the abolition of VAT will have a positive effect on the industry, but it is unlikely that prices on the menu for customers will decrease: food prices have risen greatly, and labor costs have increased due to the outflow of migrants

The initiative to exempt catering from VAT was made by President Vladimir Putin in June 2021. He offered to give this privilege to restaurants with revenues of no more than 2 billion rubles.

Subscribe to our TG channelto keep abreast of all the news and events!

Photo: ventdusud / Shutterstock


Source: RB.RU by rb.ru.

*The article has been translated based on the content of RB.RU by rb.ru. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!