Less than a month after the President Putin had signed the law on tax incentives for Russian software outsourcing companies and just a few days since a new state-funded venture capital body with a special focus on IT sector had been launched, the Russian government stepped forward with a new initiative to support the ever growing IT exports industry.
The Ministry of IT and Communications announced yesterday that it created the Federal Agency of Software Exports support. The main goal of this entity will be the promotion of software outsourcing sector in the global marketplace through the support of special events in the target markets as well as raising the public awareness of the opportunities which the cooperation with Russian ESPs provide.
Among other tasks of the Federal Agency will be the accreditation of individual companies to become eligible for the tax breaks as stated in the recent legislation. The Minister Leonid Reyman stressed that firms established in the Russian Federation as well as foreign companies with Russia legal entity are elible both for tax incentives and the state support.
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