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