Russian IT Companies, Communications Ministry Prepare Measures To Support Industry

18 August 2020

The Russian Communications Ministry and IT companies are preparing new measures to support the industry, Valentin Makarov, the head of software developers association Russoft, has told Sputnik.

According to Makarov, the need for additional support was discussed during a meeting on August 8.

“As the result of the meeting, we have decided to elaborate amendments to the tax code, aimed at eliminating ambiguity regarding a number of issues, by the State Duma’s autumn session, and work out a mechanism for subsidizing IT companies .

.. The amendments are being prepared by the Communications Ministry, IT associations and representatives of particular segments of the IT industry. The ministry is preparing the mechanism for subsidies,” Makarov said.

In June, President Vladimir Putin offered to have a tax maneuver in the IT industry, lowering social security taxes to 7.6 percent from the current 14 percent as well as lowering the profit tax from 20 percent to three percent.

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