The head of the Ministry, citizens will not feel the effects of growth of VAT on housing prices

ECONOMY

SLIDES, 6 Aug. /Basereporter.com/. The growth of payment for utility services is limited, so citizens should not worry about the impact of increased VAT rates. This was stated by the head of the Ministry of the Russian Federation Vladimir Yakushev, answering a question of journalists.

According to him, currently under study with the Ministry of economic development the question of how the VAT increase will affect the cost of utilities. “But if you specifically ask the question about whether it will touch citizens, we all know that citizens have secure [restriction] growth Board, so even if it [the VAT increase] will be reflected in the tariffs, the people nothing to disturb do not need” – said the Minister.

He explained that the Board of citizens for utility services is limited, “regardless of the tariff.” “This [the VAT rise] payment order [for utilities] will not be affected, this may affect the tariffs. The rate of payment does not affect the payment we have restricted the law,” again drew the attention of the Minister, stressing that the relevant costs would be borne by the budget.

Previously, the newspaper “Izvestia” reported that the Ministry of economic development proposes to consider the increase in VAT in the calculation of tariffs for housing and communal services. “Changes in tax legislation from 1 January 2019 to significantly increase the risk of a shortfall in income from energy suppliers, which in turn may lead to deterioration of their financial condition. Therefore, the Ministry of economic development proposes to consider appropriate changes in tariffs”, – said the press service of the Ministry.

As the paper explains, the cost of the utility will remain the same, but the total amount will increase due to the magnitude of tax included in the payment. Option of compensation for energy supply companies, including through appropriate changes in tariffs from January 2019, are discussed.

Earlier the President of Russia Vladimir Putin has signed a law that increased the value added tax (VAT) from 18% to 20% and the new rates of social security contributions. The document was adopted by the Parliament on 24 July and approved by the Federation Council on July 28.

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