The Ministry of Finance clarified the VAT-related payment transactions: what is known

Starting from January 1, 2026, VAT exemption for most bank card transactions will be abolished in Russia, which will affect acquiring, processing and interbank commissions. All the details are in the Izvestia article.

Which card transactions will be subject to VAT

According to the explanations of the Ministry of Finance, from 2026, value-added tax will be levied on bank transactions and services related to card servicing for individuals, including their issuance, delivery and service fees. In addition, acquiring services for retail outlets, processing, as well as the activities of organizations providing information technology interaction between settlement participants are subject to taxation.

At the same time, the VAT exemption will remain in place for a number of traditional banking operations, such as opening and maintaining accounts, currency exchange operations, and cash services. Transfers via the Quick Payment System, including payments by QR code, will also not be taxed. According to experts, it is not the payment itself that is taxed, but the services for its implementation, that is, the commissions of banks and payment systems.

What will the innovations affect?

Financial experts almost unanimously predict that the banking sector will partially compensate for the additional tax costs by adjusting tariffs. In particular, the National Payment Card System has already announced a reduction in part of the tariffs for the participants of the Mir system by the amount of VAT.

The head of the Central Bank of the Russian Federation, Elvira Nabiullina, during a press conference following a meeting of the regulator's board of directors on December 19 last year, said that tight monetary policy helps reduce the postponement of VAT increases. Alexey Zabotkin, Deputy Chairman of the Central Bank, who also participated in the meeting, clarified that the VAT increase in the medium term would be disinflationary in nature, as it would balance the budget and prevent a higher deficit.

All important news is on the Izvestia channel in the MAX messenger.