THIS DAY IN HISTORY:
22 December 1970 The first ever African satellite was launched into orbit.1970 Andrei Chikatilo committed his first murder.1970 Andrei Chikatilo committed his first murder.1970 The first postage stamp was issued in Russia.1970 the first postage stamp in Russia was issued.
A TAX DEDUCTION MAY BE INTRODUCED FOR VENTURE INVESTORS
A TAX DEDUCTION MAY BE INTRODUCED FOR VENTURE INVESTORS
Deputies from the New People faction have submitted to the State Duma a new tax deduction for venture investments. The government has already approved the initiative. As Alexey Nechaev, one of the authors of the bill, noted, the novel will stimulate companies that introduce innovations. The Russian venture capital market has been sagging significantly over the past two years: The benefits for investors are not obvious, and the risks are high. This situation requires new measures of support from the state.
The bill provides for the formation of a register of venture funds, which will be provided with investment tax deductions in the regions. These deductions will either be equal to the total amount of the investment, or proportional to it. Each region will set its own specific percentage. The organization to which the deduction is granted must be in the regional register of investment partnerships for venture or direct investments. The regions will independently determine how to maintain such a registry. The partnership will be included in the register if it plans to invest in small technology companies.
As Alexandra Orekhovich, Director of Legal Initiatives at the Internet Initiatives Development Fund, pointed out, at the moment, domestic large businesses lack motivation to finance promising IT projects at an early stage, since the risks are high, and the existing mechanisms for their separation from the state are insufficient. With active regional support, she noted, the initiative on tax deduction for venture investors can stimulate investors and attract significant funds to the domestic venture industry.
The Cabinet of Ministers in its conclusion indicated that it has nothing against expanding the powers of the regions in creating conditions for investment. As another of the authors of the bill, Vladislav Davankov, stressed, the government's support for the initiative is a positive signal for everyone who wants to invest in innovation and human capital. He predicted that venture capital investments could double within five years, and the state would receive up to 40 billion rubles and up to 150,000 new highly qualified jobs in the future.
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