"Russian President Vladimir Putin has ordered a "significant increase" in tax collection and compliance this year as Russia's wartime economy continues to lose momentum. The Kremlin announced the directive on Saturday following an early December meeting of the Council for Strategic Development and National Projects. A share of that increase is set to come from higher consumption taxes, which rose from 20% to 22% on January 1. This bump is expected to generate about 1 trillion rubles, or $12.3 billion, in tax revenues."
"While Russia's sanctions-hit wartime economy appeared resilient in the first years of the war, cracks are emerging as persistently low oil prices are taking a toll. In November, GDP expanded by just 0.1% from a year ago, according to official data. Industrial output declined 0.7%. In the third quarter, Russia's GDP grew 0.6% from a year ago - sharply lower than the 1.1% in the second quarter and 1.4% in the first. Oil prices fell 20% in 2025 due to ample supply and slowing demand growth."
President Vladimir Putin ordered a significant increase in tax collection and compliance this year as economic momentum wanes. Consumption tax rose from 20% to 22% on January 1, expected to yield about 1 trillion rubles ($12.3 billion). A new electronics tax is planned for September. Economic growth slowed markedly: November GDP rose 0.1% year-on-year while industrial output fell 0.7%; third-quarter GDP grew 0.6% versus 1.1% in Q2 and 1.4% in Q1. Sanctions and persistently low oil prices—which fell 20% in 2025—are squeezing revenues. Officials were ordered to restore growth, investment and address structural sector problems while keeping inflation toward 4–5% by end-2026.
Read at Business Insider
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