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News of the Federal Legislation

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News of the Federal Legislation


The VAT rate for particular types of activities in agriculture has been reduced
2008-06-26 08:00

NEWS OF THE FEDERAL LEGISLATION

The VAT rate for particular types of activities in agriculture has been reduced

The Federal Act N 92-FZ of 24 June 2008 shall make amendments to the Federal Act N 118-FZ “On enforcement of part two of the Tax Code of the Russian Federation and amendments to particular legislative acts of the Russian Federation on taxes” of 5 August 2008:

  - VAT rate has been reduced from 18 to 10% until 1 January 2012 with reference to sale of service on transfer of breeding cattle and poultry in ownership and usage under contracts of financial rent (leasing) with the right of repurchase;

- exemption of agricultural producers and Russian leasing organizations from payment of VAT in the case of importation of particular types of breeding cattle, their seed and embryos, breeding horses and breeding eggs into the customs territory of the Russian Federation has been prolonged until 1 January 2012.


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