LAW, News

State Duma approves IT tax maneuver

The State Duma has approved the draft law on the tax maneuver in the IT sector in the second and third readings. The document simplifies the procedure of receiving tax residency status.

The tax maneuver in the IT sector was initiated by Russian President Vladimir Putin. He suggested decreasing insurance payments and income tax rates for IT companies.

The Government prepared a relevant draft law. The new support measures are expected to come into force in 2021.

Tax benefits will be provided to companies that sell software and software developers who have worked in Russia for 3-6 months (they will be considered tax residents). Thus, Russia hopes to attract skilled professionals who are ready to work here.

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