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The Ministry of Finance considered the budget losses in the abolition of VAT for catering

The Ministry of Finance considered the budget losses in the abolition of VAT for catering
Photo: pixabay.com

The Ministry of Finance has calculated how much it will cost to abolish VAT for public catering establishments. The experiment is planned to be introduced for a period of three years - from 2022 to 2024.

As they write "News», Estimates of budget losses are indicated in the estimate of tax expenditures of the federal budget. If catering enterprises are exempted from VAT, about 127,3 billion rubles will fall out of the budget. At the same time, all VAT benefits - not only for catering enterprises - will lead to a loss of 7,1 trillion rubles until 2024.

Cafes and restaurants were planning to pay VAT on the condition that their annual income would not exceed two billion rubles. But even in this case, restaurateurs will have to withhold VAT from suppliers - foreign organizations. The initiative to remove the VAT came at the "St. Petersburg International Economic Forum" this year. As wrote EastRussia, such measures will be from 2022.

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