Russia Offers Tax Incentives For Use Of Domestic Technology

Russian President Vladmir Putin stated that domestic companies should not have to pay extra to adopt new technologies just as Russia starts offering tax breaks for doing so.

Russia Offers Tax Incentives For Use Of Domestic Technology 1

President Vladimir Putin announced on Thursday at the AI Journey Conference that Russian companies that use and purchase domestic IT solutions will be eligible for tax benefits as of next year.

He said that companies might benefit from tax incentives and set aside extra cash for technical advancements. This is true for recent advances in the artificial intelligence field.

The president contends that businesses shouldn’t have to pay extra to adopt technologies.

Additionally, he gave directions on how to support Russian cloud technology manufacturers. According to Putin, businesses need computing power, software, and hardware capabilities to work with data and fully digitalize their business processes.

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The president asserts that unique support systems should be created and implemented as a part of the government artificial intelligence initiative. The Russian leader also stressed the need to promote the development of domestic cloud technologies, such as “various platforms and services that allow companies, citizens and authorities to use resources via the Internet, work in applications, store information, and perform calculations.”

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