The State Duma adopted a bill to reduce taxes and insurance premiums for the IT industry
The State Duma approved in the third reading a bill on tax cuts and insurance premiums for IT companies and microelectronics manufacturers. This was reported on the website of the lower chamber. The law is expected to take effect from 2021.
According to the bill, selected business categories will receive preferential terms. Income tax will be reduced from 20% to 3% for federal companies and to 0% for regional developers. In addition, the number of insurance premiums will be reduced from 14% to 7.6%. Pension contributions will amount to 6%, social insurance – 1.5%, and 0.1% for compulsory health insurance.
The benefits are designed for companies whose income is 90% dependent on services for the development of computer programs. At the same time, the number of employees must be at least seven people.
According to TJ, the reduction in insurance premiums will cost the budget 24.7 billion rubles, and tax breaks – 32 billion. At the same time, the authors of the law argue that “the adoption of the bill will not lead to negative socio-economic and financial consequences .” The authorities plan to compensate for the costs by canceling VAT exemptions for companies that are not included in the register of Russian software.
President Putin launched an initiative to cut taxes for the IT industry during a video message to Russians in late June. He stated that the new tax conditions will be among the most attractive in the world. After that, shares of Yandex, Mail.ru, and Qiwi went up.
