On 23 July 2020, the Russian State Duma approved in its third and final reading, Bill No. 990337-7 on amendments to part two of the Russian Tax Code. This includes measures for the "ultra-low tax regime" announced in June 2020 for Russian IT companies, which includes two main benefits:

• a reduction in the corporate tax rate to 3%; and
• a reduction in social security contributions to 7.6%

The …