The “Skolkovo” Foundation proposes to introduce a tax privilege for the exporters in the field of IT: in particular, it is proposed to introduce a tax deduction for “input VAT” - the tax paid upon equipment of the workplaces of programmers who write exported software.
The Foundation which is the competence centre for the statutory regulation of the digital economy has prepared the corresponding amendments to the Tax Code. In case of their approval, companies that develop software for foreign customers and businesses selling programs directly to foreigners will be able to receive benefits.
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The adoption of the bill, according to experts, will reduce revenues to the budget by 22 billion roubles for the period from 2019 to 2025, but it will also lead to an increase in the taxable base due to the fact that the business will have opportunities to increase the number of staff, expand activities, etc.
Consult our attorneys on Russian tax regulations.
Author: Anna Dorozhkina