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Putin allows the “Circle of Kindness” to import medicines without paying VAT
- By Newsdesk
- Russia
- Jun 28, 2023
A new law signed by Vladimir Putin will exempt imported medicines from value added tax (VAT), benefiting the "Circle of Kindness" fund. The law, which will take effect on July 1, 2023, has been published on the official portal of legal information.
The "Circle of Kindness" foundation was established in 2021 under the initiative of the Russian President. During the conference "Social Partnership in the Interests of Children with Serious Illnesses" held at the Public Chamber of the Russian Federation, Alexander Tkachenko, the foundation's board chairman, stated that they have been able to provide medications to nearly 5,000 children suffering from severe and orphan diseases.
Currently, in Russia, there is a tax imposed on imported drugs intended for beneficiaries of the "Circle of Kindness" fund, which includes children and young adults under 19 years old with rare diseases who are also orphans. This is because the organization is not included in the list of organizations specified in the "On the Circulation of Medicines" law. Only those specified organizations have the privilege of importing unregistered medicines without VAT for the purpose of providing essential medical care to specific patients.
It was previously reported that in 2022, the Federal Antimonopoly Service (FAS) of the Russian Federation assisted the Circle of Kindness Foundation in reducing the cost of purchasing medicines by 40%.