Prime Minister Mikhail Mishustin said the government plans to exempt IT companies from taxes for three years. In addition, employees of Russian IT companies will receive a deferment from the army and the opportunity to get a preferential mortgage. Russian President Vladimir Putin signed the relevant decrees.
“For three years, all IT companies will be exempted from paying income tax and from inspections by regulatory authorities, they will be able to take loans on favorable terms to continue working and new projects at a rate not exceeding 3%,” the head of the Cabinet said at a government meeting .
“The government will provide employees of such companies with the opportunity to obtain a preferential mortgage, and specialists until they reach the age of 27 will receive a deferment from conscription for the duration of their work in Russian IT companies,” Mr. Mishustin said.
“It is important to prevent a slowdown in the development of the IT industry in our country, even in the face of sanctions restrictions,” he added.
Against the background of the military conflict in Ukraine and the tightening of Western sanctions, the Russian IT business is considering the possibility of prompt relocation abroad, actively consulting with lawyers on this matter. The ban that came into force on March 1 for citizens and companies of the Russian Federation to withdraw currency to foreign accounts may interfere.
For more details, see Kommersant’s material “IT business issues passports”.