Russia, Belarus join forces to deepen economic integration
Russia and Belarus said they have reaffirmed their commitment to deepening economic integration by taking concrete steps toward establishing a unified tax space.
This development follows the deployment and audit of the Integrated System for the Administration of Indirect Taxes, jointly developed by the tax authorities of both countries.
This was reported by the official website of the Ministry of Economic Development of the Russian Federation on Wednesday.
Russia’s Deputy Minister of Economic Development, Dmitry Volvach, said the system ensures seamless exchange of VAT-related information between the two nations, significantly reducing administrative burdens for compliant businesses and eliminating the risk of double taxation.
He noted that the initiative was a key driver behind growing trade volumes.
In 2024, bilateral trade reached a record $56.6 billion, a 5.7 per cent increase over the previous year.
In the first quarter of 2025 alone, trade rose by a further 2.9 per cent.
The next meeting of the committee is scheduled for the third quarter of 2025.
(Tv Brics/NAN)
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