In order to establish an environment for sustainable rates of growth of export services and enhance their competitiveness, the Russian Government has approved a Strategy for developing exports up to 2025.
The document has analyzed the Russian market, addressed the challenges of its development and highlighted an action plan to support it. The Strategy has targeted the following types of services:
Thanks to the proposed changes, the market of exported IT services is expected to grow rapidly, as compared with other sectors. Such changes include the following:
– establishing a favourable tax regime (amendments to the Tax Code concerning 0% profit and VAT, the increase of the amount of representation costs and advertising expenses, etc.);
– lifting barriers pertaining to foreign currency regulation;
– implementing measures involving support for and the extension of companies’ access to export financing;
– developing a set of measures involving certification and the adjustment of the IT sector to the demands of external markets, etc.
At present, companies involved in IT technologies are provided with the following tax benefits:
Please contact Acsour’s specialists regarding how tax legislation should be applied.