Russia Support Measures to Counter Effects of Sanctions

The Russian parliament has announced the adoption of a series of measures to help mitigate the effect of sanctions. Some of the highlighted measures include:

• An income tax exemption (0% tax rate) for accredited IT companies for 2022 to 2024;
• A VAT zero-rate for five years for hospitality businesses, including hotel owners and investors who build, rent, and manage tourist facilities;
• An individual income tax exemption on interest received from bank deposits exceeding RUB 1 million for 2021 a…