🚨 RUSSIA TIGHTENS TAX GRIP ON BANKING — CONSUMERS SET TO PAY MORE
Russia has moved key banking services back under the standard VAT system, raising the tax on financial operations to 22%. The levy covers activities like payment processing, acquiring, and interbank settlements — but banks aren’t the ones feeling the squeeze.
Instead, businesses are absorbing the added costs and passing them on through higher prices. That means everyday goods and services could soon get more expensive for consumers. 💳📈
Officials expect the move to generate around 30 billion rubles in extra state revenue. Economists, however, warn the real impact may surface elsewhere: accelerating inflation, especially for daily necessities.
The playbook is familiar — tax financial activity, companies protect margins, and households end up footing the bill indirectly. This shift could be the start of rising hidden costs across the Russian economy in the months ahead.
#MacroUpdate #InflationWatch #GlobalMarkets #EconomicPolicy #FinanceIcons $ACU $AIAV
