Figure of the day:
400 000 000
rubles will lose the Russian online stores on the VAT rise in the New year.
From 1 January 2019 in Russia, raises the VAT rate from 18% to 20%. This can cause serious problems for online shopping, because when making the purchase at the end of the year without payment, its real selling will take place in 2019, when the VAT rate will rise. This was told to the newspaper “Vedomosti”.
Under the law, the costs associated with the increase in the VAT rate by 2 percentage points be borne by the buyer. However, according to “Vedomosti” members of AKIT (Association of companies of Internet trade) are going to foot the bill yourself.
According to the AKITA, the total cost of retailers will be about 400 million rubles. As noted by Artem Sokolov, President of AKITA, if all Russian Internet-shops have decided to take on such costs, they would spend about 980 million rubles.
Among the members of the AKITA are Eldorado, M. Video, Ulmart, Svyaznoy, Euroset, re:Store, Wildberries, Lamoda and other retailers.