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PM says revenue of 5,500 IT firms triples over past five years due to support measures

Mikhail Mishustin noted that developers can use the saved funds to invest in new products

NIZHNY NOVGOROD, May 18. /TASS/. The revenue of 5,500 IT companies that benefited from government support measures has tripled in five years, Russian Prime Minister Mikhail Mishustin said at the Digitalization of Industrial Russia conference.

"The support measures have proven effective. The revenue of 5,500 organizations that have continuously benefited from these benefits for five years has more than tripled, and the size of their teams has increased 1.5-fold," he said.

First and foremost, this concerns reduced insurance premium rates, the premier said. For accredited companies in this field, they are half those for other sectors. Developers can use the saved funds to invest in new products.

Furthermore, the corporate income tax benefit remains in effect. The rate is five times lower than the standard rate, providing additional resources for expanding the company’s technological and human resources base.

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Mikhail Mishustin

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