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Maria Bagreeva: Tax revenue from the Moscow IT sector grew by a third in ten months KXan 36 Daily News

Date: January 28, 2023 Time: 08:36:33

In January-October, taxpayers from the IT sector transferred 112 billion rubles from personal income tax to the budget, 54 percent more than in the same period in 2021. Income tax revenue exceeded 40 thousand billion rubles, decreased by almost three percent compared to last year’s figure. This is due to the zero income tax rate established since 2021, transferred to regional budgets, for IT companies accredited by the Russian Ministry of Digital Development. More than 11 billion rubles fell into special tax regimes, deductions for 10 months of this year increased by 21 percent. Revenue from property taxes amounted to about 818 million rubles, Maria Bagreyeva said.

More than 78 percent of the industry’s revenue came from the sphere of software development and consulting services – almost 129 billion rubles, an increase of 36 percent compared to January-October last year. At the same time, personal income tax collection in this sector exceeded last year’s values ​​by 62 percent, and income tax decreased by 11 percent due to the use of tax benefits for part of the taxpayers. Database designers and developers, hosting providers, web platform operators transferred almost 36 billion rubles to the budget. The volume of payments increased by 21 percent, while income from personal income tax increased by a quarter, income tax – by 19 percent.

A wide range of regulatory support measures are available for developers and customers of domestic software, including exemption from inspections until 2024, development grants, concessional loans, subsidies for the purchase of domestic software. Separate support is provided for IT professionals. Thus, employees of companies accredited by the Ministry of Digital Development, Communications and Mass Media of the Russian Federation can benefit from a preferential mortgage program at a rate of up to five percent. During the seven months of its operation, from May to November this year, such loans amounting to 17.2 billion rubles were issued in Moscow, the minister added.

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.
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