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Russia Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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Population
142,257,519 (July 2017 est.)
GDP (PPP)
$4 trillion (2017 est.)

The largest economy in Eastern Europe

GDP growth rate
1.8% (2017 est.)

The Country is recovering from two years of recession in 2015 and 2016

GDP (PPP) per capita
$27,900 (2017 est.)

Medium

Local currency
Russian ruble (RUB)

Weak currency dependent on commodity prices, since the export of commodities is the main engine of the Russian economy

Financial stability (Public debt)
11.8% of GDP (2017 est.)

Very low, taking into account that the data cover both federal and subnational governement debt

Inflation
4.2% (2017 est.)

Medium to high level, it has slowed from 7% in 2016

Language
Russian

English is not spoken nor is it used on signs, which are all in cyrillic (Russian alphabet)

Corruption perception index (Source: Transparency International)
135/180

Very high level of corruption

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT

Goods and services supplied or imported in Russia are subject to VAT at 18% (with a lower rate of 10% applicable to certain basic foodstuffs, medicines and medical products, etc.)
Corporate Tax

20% (can be reduced to 15.5% in some states)
Duties

Import VAT applies

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