Most Popular Article in Russian Federation, July 2016
Federal Law No. 225-FZ on Amendments to Part Two of the Tax Code
of the Russian Federation dated 30 June 2016 enters into force on 1
August 2016. According to the law, a VAT exemption is granted on
import of raw materials and components of devices for which no
analogues are manufactured in Russia and which are intended for the
manufacturing of VAT exempt medical products. The list of such
medical products is currently approved by RF Government Resolution
No. 1042 of 30 September 2015.
This law sets up new rules for raw materials and components for
assembly of medical products: on the one hand, the VAT exemption
applies to any types of components, which need not be on the List
(Resolution 1042 exempts only raw materials and supplies for making
prosthetic and orthopedic appliances from VAT); however, on the
other hand, this exemption will apply only to those components for
which no analogues are manufactured in Russia.
Entitlement to VAT exemption needs to be confirmed by submitting
to the customs authority a document evidencing: (1) the intended
use of the raw materials and components and (2) that there are no
Russian analogues. Such a document will be issued by the Ministry
of Industry and Trade of Russia.
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