Media: VAT privileges will be canceled only for foreign IT companies

Officials from the Russian Ministry of Finance began to develop the possibility of abolishing the zero VAT rate for

foreign IT companies.Thus, the department wants to “exclude Russian representatives of the industry from the impact of that part of the tax maneuver, which is designed to compensate the budget for the planned relaxations for the industry.” Interfax reports this, citing an anonymous source in the Ministry of Finance.

The Ministry will make the final decision afterof how he will receive recommendations from the Ministry of Economic Development. In particular, they want to clarify how this measure will comply with the international legal regime of most favored nation, when the legal and preferential conditions for all foreign companies working for countries are equalized.

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Earlier, the Ministry of Communications proposed to compensateRussia's budget to support the IT industry by eliminating zero VAT on the sale of exclusive rights to software and rights to use it under a license since 2021. However, experts noted that this would interfere with the implementation of support measures and lead to higher prices for foreign programs.

From January 2019, IT companies registered abroad are required to pay 20% VAT. Every year this brings the budget about 12 billion rubles.

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