Russia- Export VAT

Russia is looking to impose an export VAT on a range of raw materials, the key reason being to bring in much needed additional revenue. Exports in Russia, and most of the world, are generally VAT exempt.

The raw materials which could be affected include the following, wood, precious metals, zinc, tin, copper, fertilisers, animal skins and furs; and aluminium,  precious stones and minerals

VAT exporters of the above will also lose their right to deduct any input VAT incurred on their purchase or processing.