Russia Tax Agency Announces Amendments to Investment Tax Deduction

The Russian Federal Tax Service Oct. 2 announced amendments enacted under Federal Law No. 337-FZ, modifying the investment tax deduction under Article 286.1. The law includes measures: 1) allowing an expense deduction of up to 100 percent for cash contributions to investment partnerships for venture capital and direct investments in small technology companies; 2) requiring information on the partnership to be included in the regional register of investment partnerships for innovative projects or activities; 3) clarifying that the right to apply the deduction must be supported by the relevant law of the Russian Federation’s constituent entity where the taxpayer or ...