Income tax for IT companies, which is currently zero, will increase to 5% from 2025, Russian President Vladimir Putin said. We are talking about preferential taxation, since the standard rate can increase from 20% to 25% from January 1.
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Vladimir Putin, speaking at SPIEF 2024, proposed reducing the tax for IT companies to 5% for the period from 2025 to 2030. The President also ordered the development of additional measures to support IT companies. One of the support measures is the opportunity for new companies to participate in public procurement.
The President also ordered the adoption of a federal law that will provide a legal framework for the creative industry.
The income tax rate for IT companies in the period 2025-2027 could increase up to 5%, RBC reported in May with reference to a draft law prepared by the Ministry of Finance of the Russian Federation. Until the end of 2024, the sector is subject to a zero rate, introduced in 2022 as a support measure within the framework of US sanctions. Market participants asked to extend the benefit or make it permanent.
Starting in 2025, Russia plans to increase income tax from 20% to 25%. The zero rate for IT companies was in effect until the end of 2024, and could also increase to 25% after that.
Previously, RB.RU reported that the announced fiscal adjustment, planned in Russia from 2025, will be finalized taking into account the needs of industries.
Author:
Ekaterina Strukova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
