In Russia, salaries of public sector workers will be indexed, the amount of the car recycling fee will be increased and some VAT benefits will be abolished; We will talk about the main legislative innovations of October.

Wage indexation, increase in car scrapping tax, VAT benefits: what laws will come into force in October
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  • Starting October 1, 5.1% will be salaries are indexed public sector employees: employees of federal institutions and state bodies (including teachers and doctors), civilian personnel of military units, scientific workers with an academic degree in law.
  • Banks and insurance companies will only be able to sell without restrictions investment and savings insurance policies life with capital protection, that is, only those policies in which the insurance guarantees the return of the majority of the investments.
  • Recycling fee for automobiles will increase by 75 to 80% starting October 1. Experts suggest that the cost of cars will immediately increase by 10%, but dealers will gradually raise prices. Starting in 2025, the amount of recycling collection will increase by 10% to 20% annually until 2030.
  • Starting October 1 extension of restrictions for money transfers abroad, they will be valid until March 31, 2025. Russian citizens will only be able to transfer one million dollars per month or its equivalent in another currency to their accounts in foreign banks.
  • Realization services vehicle technical inspection They will be excluded from the list of operations not subject to VAT. In addition, VAT benefits for housing management companies, homeowners’ associations and housing construction cooperatives will be partially cancelled.

Author:

Kirill Bilyk

Source: RB

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I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.

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