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Webinar. New tax regime for IT assets in 2021: possible solutions and risks in business restructuring

  • Russia

    29-09-2020

    Description:

    Eversheds Sutherland continues a series of webinars that update the legal and tax aspects of doing business in Russia.

    The introduction of a new tax regime for companies that generate the income from IT assets opens new horizons for financial planning. In 2021, an unprecedented drop is expected in the tax rate of income tax (from 20% to 3%) and the aggregate tariff on social contributions (from 30%/14% to 7.6%), which will significantly reduce the tax burden of companies involved  into the IT sphere and will increase the financial liquidity of their business.

    At the same time, a significant change in the VAT taxation regime for the implementation of software and databases actually restricts the application of VAT exemptions by foreign companies, which may negatively affect the competitiveness of some IT products in the Russian market.

    It is already clear today that companies that correctly and timely restructure their business and (or) individual IT-related products and areas will be able to take advantage of these tax preferences.

    However, for the correct business restructuring, for example, by separating IT assets within a new company, or by consolidating them into a specific group company, it is important to consider not only the subtleties of the practical application of the new rules in terms of corporate, labor, commercial and other areas of law, but also existing tax concepts and the practice of their application by fiscal authorities.

    Eversheds Sutherland experts will summarize at our webinar which restructuring models will be successful and which ones will lead to tax risks.

    Date:

    8 October 2020

    Place:

    ZOOM (Details of the videoconference will be sent to registered participants one day ahead of the webinar)

    Webinar program:

    11:00-11:20 – Tax maneuver in the IT industry in Russia and in the world in numbers

    11:20-11:50 – How to become an “IT company” in 2021: requirements for software developers, the current practice of qualifying “IT income” and the principles of their restructuring

    11:50-12:20 – Features and problems of the application of the preferential tax regime by the developers of “hardware”

    12:20-12:50 – Removal of VAT exemption: winners and losers of market participants, impact on e-services, product changes

    12:50-13:20 – Models of restructuring of IT assets in a group of companies and related tax risks

    13:20-13:30 – We answer your questions

    Main target audience:

    The webinar will be of interest for CFOs (Chief Financial Officers), heads of tax departments, chief accountants, lawyers, heads of IT departments and other employees responsible for taxation and the operation of IT assets.

    Speakers:

    • Andrey Grachev, counsel, head of the tax practice at Eversheds Sutherland
    • Anton Borisichev, senior associate in the tax practice at Eversheds Sutherland
    • Alexey Darkov, senior associate in the IP practice at Eversheds Sutherland

    The event will be held in Russian. Participation is free of charge and participants should register in advance.

    Please confirm your attendance by sending an email to Anna Ermolova by 6 October 2020 to anna.ermolova@eversheds-sutherland.ru or by phone at +7 495 662-6434.

    If this webinar may be of interests to any of your colleagues, please circulate this invitation.

    We are looking forward to your participation!

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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