Russian Prime Minister Mikhail Mishustin signed a resolution softening the conditions for obtaining a soft loan at a rate of up to 3% per annum for IT companies.
“The document canceled the condition that an IT company applying for a loan had to receive tax benefits and pay reduced insurance premiums,” the government website said in a statement.
The Cabinet of Ministers expects that the number of IT companies in the country will now increase, which will be able to receive loans at a rate of up to 3% to work on digital transformation projects.
What restrictions to obtain a soft loan still apply:
- the borrower must not be in liquidation,
- must be a tax resident of the Russian Federation,
- must not be bankrupt
- it is impossible to pay dividends and incentive payments at the expense of a prime loan,
- it is necessary to index the salaries of all employees and keep the average number of employees at the 85% level.
In December 2019, the preferential credit program for digital transformation projects was launched. The loan amount can be from 5 million to 10 billion rubles.
The money can be used for the purchase, installation, adjustment and other activities for the start-up of software and hardware systems, labor costs and insurance payments, and other purposes.
Author:
anastasia mariana
Source: RB
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