Russian Prime Minister Mikhail Mishustin announces a new tax regime for IT business
9 July 2020, Thursday
On July 9, during a working visit to Tatarstan, Russian Prime Minister Mikhail Mishustin took part in a meeting on the development of the domestic IT industry, during which he announced the introduction of an updated tax regime for IT companies.
In particular, we are talking about the following changes.
Firstly, premium rate for accredited IT companies, 90 per cent income of which comes from the sale of software and software development services, will be 7.6 per cent. The same rate awaits companies developing solutions in cloud services and data centre services.
Secondly, the income tax for IT companies will drop to 3 per cent.
Thirdly, the granting of rights to use software included in the unified software register is exempted from VAT.
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