Lowering the threshold for STS will not affect 85% of businesses - Siluanov

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The majority of small and medium-sized businesses in Russia will not feel the reduction of the limit on VAT (from 60 million to 10 million rubles), after exceeding which the obligation to pay VAT arises. This opinion was voiced by Finance Minister Anton Siluanov during a meeting of the Duma Committee on Budget and Taxes.

According to him, up to 15% of SMEs will fall under the reduction of the threshold for VAT payments.

- Is it a lot or a little? If you look by the standards of other countries, all enterprises pay VAT there. Therefore, it is probably wrong to say that this is a blow to small businesses. In addition, small businesses will have the opportunity to build chains with large businesses. Therefore, we believe that this is a well-considered decision. 85% of small and medium-sized businesses will work as they did, the rest will work with VAT," Siluanov explained.

• Earlier, the Ministry of Finance proposed lower the threshold of revenue for SMEs in "simplified tax system" for the transition to VAT from 60 million to 10 million rubles. This measure is designed to stop the fragmentation of businesses to avoid paying taxes.