...

Russia publishes plan to tax foreign tech, promote home-grown rivals




  • In US
  • 2021-09-14 10:37:00Z
  • By Reuters
 

MOSCOW (Reuters) - The Russian government published a plan on Tuesday to impose new taxes on foreign-owned digital services by November, part of a package of proposals Moscow says are aimed at supporting its domestic tech sector.

The proposed tax on foreign tech firms has been presented as part of an international effort to agree new global tax rules to better capture revenues generated by big tech firms known for shifting profits to low-tax jurisdictions.

Deputy Finance Minister Alexei Sazanov said earlier this year that large foreign digital companies providing services in Russia should be subject to profit taxes, and that Moscow was involved in discussions with the Paris-based Organisation for Economic Cooperation and Development (OECD).

But in Russia's case, the move also comes amid a wider effort to strengthen control of the internet and promote domestic alternatives to the services offered by Silicon Valley.

Russia has been seeking to force foreign firms to open offices on its territory and store Russians' personal data there.

Other measures that already came into effect this year included a series of tax cuts for domestic IT firms. A subsequent law required smartphones, computers and other devices purchased in Russia to offer users pre-installed Russian software.

Tuesday's package of additional measures seeks to increase demand for domestic technology and accelerate the digital transformation of parts of the economy, the government said in a statement.

(Reporting by Alexander Marrow; Editing by Peter Graff)

COMMENTS

More Related News

Putin Orders More Gas for Europe Next Month, Sending Down Price
Putin Orders More Gas for Europe Next Month, Sending Down Price

(Bloomberg) -- President Vladimir Putin ordered Gazprom PJSC to start refilling its European gas-storage facilities next month, sending prices lower as long-...

Russia marks another daily coronavirus death high
Russia marks another daily coronavirus death high
  • US
  • 2021-10-27 10:38:44Z

Russia hit another record for daily COVID-19 deaths on Wednesday as authorities across the country moved to keep most people off work in line with a Kremlin ...

Russia opens case against Apple in App Store payment dispute
Russia opens case against Apple in App Store payment dispute
  • US
  • 2021-10-27 07:15:36Z

MOSCOW (Reuters) -Russia has opened an antitrust case against Apple for failing to allow app developers to tell customers about alternative payment options...

U.S. senators urge Biden to avoid India sanctions over Russian deal
U.S. senators urge Biden to avoid India sanctions over Russian deal
  • US
  • 2021-10-27 06:24:54Z

Two U.S. senators have urged President Joe Biden to waive sanctions against India over its purchase of Russia's S-400 air defence system, saying such a...

Russia puts onus on regional leaders to step up COVID fight
Russia puts onus on regional leaders to step up COVID fight
  • US
  • 2021-10-26 13:16:34Z

Russia ordered regional leaders on Tuesday to step up their fight against COVID-19 as the daily death toll hit a record for the sixth time in eight days...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: US