Russia publishes plan to tax foreign tech, promote home-grown rivals

MOSCOW: The Russian government published a plan on Tuesday to impose new taxes on foreign-owned digital services by November, part of a package of proposals Moscow says are aimed at supporting its domestic tech sector.

The proposed tax on foreign tech firms has been presented as part of an international effort to agree new global tax rules to better capture revenues generated by big tech firms known for shifting profits to low-tax jurisdictions.
Deputy Finance Minister Alexei Sazanov said earlier this year that large foreign digital companies providing services in Russia should be subject to profit taxes, and that Moscow was involved in discussions with the Paris-based Organisation for Economic Cooperation and Development (OECD).