The Russian Official Gazette Nov. 17 published Law No. 417-FZ, providing VAT exemptions on specified bank transactions involving precious metals. The law includes measures exempting: 1) banks from paying VAT on interest accrued for precious metal bullion under a bank account agreement; and 2) the placement of precious metals by banks not involved in deposits. The law enters into force Jan. 1, 2026. [Russia, Government Legal Database, 11/17/25]
Reference:
View Law No. 417-FZ/2025. View Law No. 417-FZ/2025, Official Gazette No. 0001202511170006/2025. View Gazette Index.
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