The Russian Government will work out measures to reduce value added tax (VAT) for the tourism industry. Such an order to the cabinet was given by President Vladimir Putin.

It is noted that the government should submit a report on this issue by 1 November this year.

It is a reminder that Sergey Bachin, the founder of the tourist resort "Rosa Khutor", proposed to reduce VAT for companies in the tourism industry from 20 to 7-10%. According to him, it will make the Russian tourist product more competitive and affordable for the citizens. Now, according to Bachin, VAT on tourism in South-East Asia, China, Korea, Japan and neighboring countries is about half as much as in Russia. Accordingly, tourist products are cheaper there, and it is more profitable for Russians to rest abroad.

Made in Russia / Made in Russia

Author: Maria Buzanakova