Latest News

Russian PM pledges flexible taxes, support to IT firms as crisis unfolds

© Reuters. Russian Prime Minister Mikhail Mishustin chairs a meeting on economic issues via a video link in Moscow, Russia March 1, 2022. Sputnik/Alexander Astafyev/Pool via REUTERS

MOSCOW (Reuters) – Prime Minister Mikhail Mishustin on Wednesday said Russia would provide additional funds to develop its IT sector and may tweak tax arrangements for businesses and households as it seeks to manage the fallout from unprecedented western sanctions.

“For three years, all IT companies will be exempt from paying profit tax and from inspections by controlling authorities,” Mishustin told a government meeting. “They will be able to take loans on favourable terms and new projects at a rate not exceeding 3%.”

Russia’s central bank hiked its key interest rate to 20% on Monday.

Russian PM pledges flexible taxes, support to IT firms as crisis unfolds

Disclaimer:Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:Latest News