Russia Issues Release on Regional Reduced Corporate Tax Rate for Intellectual Property Licensing Income

Russia's Federal Tax Service recently issued a news release on amendments to the Tax Code regarding intellectual property that were introduced by Federal Law No. 305-FZ of 2 July 2021. As previously reported, this includes the addition of a new clause with effect from 2 August 2021 that allows Russian regions to establish a reduced regional corporate tax rate in relation to the income (profit) received by taxpayers from the provision of rights to use the results of intellectual property acti…