New hotels in Russia to be exempt from VAT for five years

New hotels in Russia to be exempt from VAT for five years

According to the decree of Prime Minister Mikhail Mishustin, the rules for maintaining a register of tourism industry facilities have been approved, and hotels that have been operating since the beginning of this year are exempt from value-added tax (VAT) for the next five years.

"Hotels and other accommodation facilities put into operation after January 1, 2022, including after reconstruction, will be included in the register," the press service of the government informed. The list of objects of the tourism industry will be formed in electronic form, Rostourism is the responsible entity.

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