The Ministry of Industry and Trade of the Russian Federation has applied to the Ministry of Finance, the Ministry of Digital Development, the Ministry of Economic Development, and the Federal Tax Service to agree on the tax maneuver in the IT industry for the manufacturers of radio-electronic products.

It is proposed to reduce income tax to 3% and insurance premiums to 7.6% for companies that produce or sell self-developed electronic components.

The ministry’s experts believe that the measures can offset the effects of sanctions affecting the industry. “Russian manufacturers of electronic components can become especially vulnerable in the new conditions since today many enterprises producing microelectronic parts are already operating under the sanctions regime,” the experts of the Ministry of Industry and Trade noted.

The initiative of the Ministry of Industry and Trade was announced in December. Similar benefits for the IT industry have been in effect since last year.

Original (in Russian)