The law enabling Russian IT companies – software developers to enjoy tax relief comes into force on Friday, January 1. Particularly, it lowers the rates of insurance premiums for the industry and income tax rates, TASS reported.
A respective bill was signed by Russian President Vladimir Putin into law in late July. The tax maneuver envisions a reduction starting January 1, 2021 of the rate of insurance premiums for the industry from 14% to 7.6%, and of the income tax rate – from 20% to 3%.
The reduced taxation rate is only applicable to software developers and does not apply in respect of distributors and companies, whose revenue from …
