Russia’s Finance Ministry wants tax preferences for high-speed railwaysChristian Fernsby ▼ | June 21, 2019
Russia’s Finance Ministry has developed a bill on tax incentives for development of high-speed railway infrastructure, and including zero value-added tax (VAT) for transportation of passengers and baggage via the railway from January 1, 2025 through January 1, 2060, according to the bill published on Friday.
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Russia has no high-speed railways and the Moscow–Kazan railway was to become Russia’s first. Russian Railways has been working on it for several years, but President Vladimir Putin approved development of the Moscow–St. Petersburg railway in April as a more practical project. ■