Business fragmentation. Tax maneuver in the IT industry. Reducing income tax. Justification for business restructuring.
Large companies began to separate IT departments for the sake of profit.
The tax maneuver in the IT industry, launched on January 1, has led to a massive business restructuring. Companies have begun to allocate specialized units that can receive benefits, and are already actively applying for them, Kommersant writes.
VimpelCom-Information Technologies, established in January, emerged from the registration of companies accredited by the Ministry of Finance. In addition, Post Digital, created in December 2020, MTS artificial intelligence center, MTS-IT and MTS Lab controlled by it, apply for benefits. The registration includes Sberbank-Service and Rusatom - digital solutions.
Amendments to the Tax Code, known as the IT tax maneuver, were signed by President Vladimir Putin at the end of July 2020. Their goal is to support and stimulate the industry during the pandemic. In particular, from January 1, for IT companies, income tax rates have been reduced from 20% to 3%, and the rate on insurance premiums has been reduced from 14% to 7.6%.
Companies that want to appoint IT departments must have a business reason for doing so so that the tax authorities cannot claim companies for unreasonable services.
Vitaly Vetrov, managing lawyer at the Vetrov & Partners law firm, will comment on the ongoing changes.
The desire to have a more efficient business, get benefits or other benefits is a concern for any business. Therefore, there is nothing surprising in what is happening. Something else will be interesting. How this or that company, if necessary, will be able to justify the restructuring of the business, as far as the arguments, the evidence will be convincing, and the “benefit” in itself will not be an end in itself.
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