The president on 31 July 2020 signed into law legislation (Federal Law No. 265-FZ) that amends the Russian tax law to provide an exemption from value added tax (VAT) for the IT or digital sector. The new law addresses how the VAT exemption applies for software and databases.
Source: KPMG
Latest Posts in "Russia"
- Russia is set to increase its standard VAT rate from 20% to 22% starting in 2026
- Russia Faces Economic Uncertainty Amid VAT Hike Plans and Escalating US Sanctions
- Russian IT Industry Retains VAT Exemption, Easing Tax Pressure on Software Developers
- Russian Government Delays Removal of VAT Break for Domestic Software Developers
- Russian Small Businesses Warn Tax Hikes May Force Closures, Push Firms Into Shadow Economy
