Report: Ministry wants zero corp profit tax for IT firms extended

MOSCOW, Oct 26 (PRIME) -- Russia’s Digital Development Ministry will suggest prolonging a zero corporate profit tax for IT companies beyond 2024, Minister Maksut Shadayev said on Thursday in an interview to television channel Rossiya 24.

“We have made an important decision about a zero rate of the corporate profit tax till the end of 2024 so that the companies could spend the money…they pay to the budget on investment or injection in development of production,” Shadayev said.

“We think this measure has paid off. This is why we will certainly suggest extending the measure. The matter stays…with the government with balancing of the budget.”

The government in 2022 launched support measures for the IT industry, including cancellation of the profit tax for 2022–2024.

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