The State Duma proposed the government to introduce incentives for investments in start-ups

The government is ready to support the idea of ​​introducing tax incentives for companies that invest in domestic start-ups, informed “RIA Novosti” Vice-Speaker of the State Duma from the “New People” Vladislav Davankov.

“The government of the Russian Federation is ready to support the initiative of the New People party on tax incentives for companies that make venture capital investments in domestic start-ups,” Davankov said following the closed part of the party’s meeting with the Cabinet of Ministers. He added that Prime Minister Mikhail Mishustin instructed the Ministry of Finance and the Ministry of Economic Development to work out steps to implement this initiative within 10 days.

Russian companies that purchase domestic IT solutions and products with artificial intelligence will be able to count on a reduction in income tax payments. With the corresponding offer spoke Russian President Vladimir Putin as part of his address to the Federal Assembly on February 21, 2023

Moreover, these expenses of companies will be taken into account with an increased coefficient, one and a half times more than the actual costs, Putin added. “That is, for every ruble invested by the company in the purchase of such products, which I just mentioned, there is a tax deduction of one and a half rubles,” he explained.

Putin proposed extending the same benefit to the purchase of Russian high-tech equipment in general. “I ask the government to make proposals on the list of such equipment, on the industries in which it is used, and on the procedure for granting benefits,” the president concluded.