Putin approved measures to support IT companies

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Vladimir Putin signed a decree on the support of the IT industry, according to a publication on the Kremlin’s official website.

Benefits for Russian IT companies appeared last year. Now, amid the collapse of stocks, it was decided to introduce additional measures to support the information industry.

All IT companies will be exempt from income tax and inspections by regulatory authorities for three years. To continue working and create new projects, organizations will be able to receive loans at a rate below 3%.

Employees of IT companies who are under the age of 27 will be able to count on a deferral from conscription into the Armed Forces of the Russian Federation – for the period of work in these organizations.

Employees of IT companies will also be able to apply for a preferential mortgage for the duration of their work in Russian companies. This was announced by Russian Prime Minister Mikhail Mishustin at a government meeting that was devoted to measures to support Russian business.
Mishustin added that the decisions taken are aimed at preserving human resources and preventing a slowdown in the development of the IT industry in the country, despite the sanctions.

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