The ministry of High-Tech Industry published a draft of the new law on State Support program for fostering the High-tech sector.

This is the new law, that replaces the older law accepted in 2015.

The old law provided an opportunity for the newly established IT companies have 0% profit tax, 10% income tax and other benefits.

Key changes:
- The new law enter in the effect from Jan 1, 2023, and will be in force till Dec 31, 2027.
- The scope of the law increased, and it will include Hight Tech domain in addition to IT industry.
- Contractors working under a service contract will be counted as employees and the total number of contractors and employees should not exceed 50 people.
- Now if a minority shareholder (angel investor) owns shares in up to 3 companies who are granted benefits under this law, it will not become a reason to cease the benefits for those companies.

The community can vote on the new law and share their feedback or suggestions. Deadline – September 16, 2022.

You can watch this insightful video where Sergey Muradyan, the CEO & Founder of Step Consulting discusses the pros and cons of new law: https://cutt.ly/hCFldQo

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