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IT companies in Russia to be exempt from income tax for three years — PM

Employees of IT companies will also have an opportunity to receive subsidized mortgage and the military deferent

MOSCOW, March 2. /TASS/. All IT companies in Russia will be exempt from the income tax payment and from inspections for three years, Prime Minister Mikhail Mishustin said on Wednesday at the Cabinet meeting.

"All IT companies will be exempt for three years from paying the income tax and from inspections by oversight bodies; they will be able to borrow for continuation of operations and new projects at a rate capped by 3%," Mishustin said.

Employees of IT companies will also have an opportunity to receive subsidized mortgage and the military deferent, Mishustin added.