Mishustin announced the extension of benefits for microelectronics developers for three years

Prime Minister Mikhail Mishustin announced new benefits for the microelectronics industry. As part of state support, it is planned to extend the special tax rate for developers for three years, as well as prepare a bill on extending benefits to electronic engineering enterprises and manufacturers of materials for this industry. The Ministry of Industry and Trade believes that this will allow companies to increase investment in new developments. However, some enterprises note that the initiative does not yet include the issue of preferential lending to electronics manufacturers.

Image source сгенерировано нейросетью DALL•Е 3

At the "Microelectronics 2024" forum, which took place on September 23, Mikhail Mishustin announced the state's plans to extend the preferential tax rate on profits and reduced insurance premium rate for electronics developers. According to him, in 2023, Russian companies were able to save over 70 billion rubles thanks to these measures. Currently, microelectronics manufacturing companies included in the relevant register of the Ministry of Industry and Trade enjoy a preferential profit tax at a rate of 3%, as well as 0% in terms of profit tax in the regional budget. Insurance premium rates for such companies are 7.6%.

Mishustin spoke about the government's plans to extend these benefits to electronic engineering enterprises and manufacturers of special materials used in microelectronics. This bill will be considered at the next government meeting.

The Prime Minister also noted that over 430 billion rubles have been allocated from the budget over four years for the development of microelectronics in Russia. At the end of the first half of the year, the volume of production of electronics and optical products increased by 35% compared to the same period in 2023. Radar and radio navigation equipment demonstrated particularly significant growth, with an increase of almost 60%.