RUSSIA: COVID-19 VAT IMPLICATIONS

Jul 8, 2020 | COVID-19

RUSSIA – Update 7th July

Ministry of Communications Proposes to Abolish Zero VAT Rate on Sale of Intellectual Property)

In response to the COVID-19 pandemic, the Ministry of Communications proposed to abolish the 0% VAT rate on the sale of exclusive rights to intellectual property such as computer programmes and databases, and the right to use such products under a license agreement. This measure aims to compensate the government spending on the IT sector. If adopted, the exemption will be abolished from 1 January 2021.

 

Source Credit – IBFD

 

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