29.10.08

Russia’s Federal Tax Service explained procedure for installments of VAT payments according to the Federal Law # 172 from October 13, 2008 for the third quarter of 2008:

• 1/3 by October 20,
• 1/3 by November 20,
• 1/3 by December 20.

If dividing the full amount into three precisely equal shares is impossible, whatever is left over is due at the last installment. Also, payments may exceed 1/3 and/or be paid at earlier time.

Delayed payments will lead to fines.

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