IT companies in Russia exempted from taxes and inspections

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IT companies in Russia exempted from taxes and inspections
IT companies in Russia exempted from taxes and inspections
2 March, 16:08BusinessPhoto: Фото: 1MI
IT companies operating in Russia were exempted from income tax and inspections for three years. This was announced by the Prime Minister of the Russian Federation Mikhail Mishustin.

Young employees of IT companies under the age of 27 were granted a deferment from conscription.

In addition, IT companies were promised preferential loans at a rate not exceeding 3% per annum to continue existing and launch new projects. Preferential mortgages will be available for employees of IT companies.

"It is important to prevent a slowdown in the development of the IT industry in our country, even in the face of sanctions restrictions. It is necessary to ensure the stable and uninterrupted functioning of the information infrastructure. And, of course, to maintain human resources", - Mikhail Mishustin explained the decision.

According to the Prime Minister of the country, the measures taken will help to maintain the development of the industry.

Recall that on Monday the Bank of Russia increased its key rate from 9.5% to 20% per annum. The decision was made to maintain the stability of the financial system against the backdrop of Western sanctions against Russia. Interest rates on loans for the population after that almost reached 30% per annum.

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