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Russian developers of AI solutions will receive a tax deduction for 10 years

UNITED STATES (OBSERVATORY NEWS) — Companies developing solutions in the field of artificial intelligence (AI) will be able to receive a tax deduction for ten years from December 2020, the draft roadmap for the development of AI in Russia noted.

Ten-year tax deductions are provided for in the framework of the federal project “Artificial Intelligence”, Science notes. The Ministry of Economic Development will develop appropriate amendments to the Tax Code and prepare a register of AI solution development companies and AI implementing companies that will receive tax benefits.

The roadmap provides for the creation by June 2021 of a mechanism of public-private partnership for companies developing AI solutions, the Ministry of Economic Development and Sberbank will do this.

Sberbank acts as a center of competence in AI and is responsible for its development, the bank operates an AI laboratory.

Sberbank, Gazprom Neft, Yandex, Mail.ru Group, MTS and RDIF signed an agreement on cooperation in the development of AI in November 2019. The RDIF has already raised $ 2 billion from foreign investors to develop AI technology. One of the key tasks is to bring Russian companies in the field of AI to international markets.

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