Tax breaks for IT companies may lead to an increase in digital technology exports by up to 10%

Within the framework of industry planning by experts of JSC REC, part of the VEB Group.In the Russian Federation, forecasting of the export of IT services has been carried out.

"One of the drivers of the industry's development may be the implementation of the "tax maneuver" proposed by Russian President Vladimir Putin. One of the lowest tax rates in the world in the IT sector will allow our exporters to show significant qualitative and volume changes in exports," said Stanislav Georgievsky, Vice President of REC JSC.

Thus, reducing the income tax rate from 20% to 3% and the insurance premium rate from 14% to 7.6% will stimulate the strengthening of the international competitiveness of Russian companies and create qualitative prerequisites for accelerating export growth in this area to 10%.

"Active manufacturers in the field of information technology have already been able to benefit from the current crisis. Demand in the industry is growing rapidly, as companies everywhere are trying to provide employees with the opportunity to work from home, and people to communicate remotely. In addition, work is actively underway to digitalize business processes in all areas of the economy and business - today this is becoming a crucial factor in the competitiveness and success of almost any company," said Stanislav Georgievsky.

The REC expects that a comprehensive support plan for high-tech companies will not only significantly increase exports of Russian software, create a comfortable business environment for IT companies by returning many from foreign jurisdictions, and also stimulate new investments in the industry.

Website by
Issues with state support for businesses — tell us about it