Tax and Accounting Processes in Russia
Posted: Tue Jan 07, 2025 4:03 am
Payment Methods in Russia
While online shopping is quite common in Russia, when you consider the country’s payment method habits, cash payments are quite common. Therefore, brands that will export products to Russia need to be able to receive cash payments.
Bank transfers are also among the most widely used payment methods in the country. Credit cards are generally used more in large cities or tourist areas. E-wallets are a very popular payment method in Russia and it is possible to say that they are used by the whole society.
While wallets such as Qiwi, Yandex.Money and Web.Money are quite popular in the country, the use of Sberbank Mobile Payment applications, along with Yandex.Money, which offers mobile payment opportunities, is also increasing day by day.
Tax and Accounting Processes in Russia
Brands that will export to Russia pay customs and VAT according to belize whatsapp phone number the type of product they will sell, the country of production and other factors. It is generally known that Russia demands a 20% VAT when consumer goods are taken into account , but for some products the VAT rate is lower.
Russia demands special consumption tax for special consumption products such as alcohol and tobacco. Brands that will export to Russia also pay taxes such as transportation fee, insurance, etc. during customs processes.
While online shopping is quite common in Russia, when you consider the country’s payment method habits, cash payments are quite common. Therefore, brands that will export products to Russia need to be able to receive cash payments.
Bank transfers are also among the most widely used payment methods in the country. Credit cards are generally used more in large cities or tourist areas. E-wallets are a very popular payment method in Russia and it is possible to say that they are used by the whole society.
While wallets such as Qiwi, Yandex.Money and Web.Money are quite popular in the country, the use of Sberbank Mobile Payment applications, along with Yandex.Money, which offers mobile payment opportunities, is also increasing day by day.
Tax and Accounting Processes in Russia
Brands that will export to Russia pay customs and VAT according to belize whatsapp phone number the type of product they will sell, the country of production and other factors. It is generally known that Russia demands a 20% VAT when consumer goods are taken into account , but for some products the VAT rate is lower.
Russia demands special consumption tax for special consumption products such as alcohol and tobacco. Brands that will export to Russia also pay taxes such as transportation fee, insurance, etc. during customs processes.