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Russia Drafts Legislation for Temporary IP Income Exemption — Orbitax Tax News & Alerts

According to a release issued following a 10 February 2022 government meeting, legislation has been drafted for the introduction of a temporary preferential tax regime for intellectual property income. The preferential regime will provide an income tax exemption on income from the results of intellectual property activity, provided that the copyright for the property is identified from 1 January 2022. The regime will be available for large companies for three years and for small and medium-sized businesses for five years. According to the release, the relief under the regime will be similar to the relief granted for the period 1 January 2018 to 31 December 2019, which excluded qualifying intellectual property rights income from the tax base.