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Saturday, 11 Jul 2020

Putin helped the growth of shares of Yandex

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Putin helped the growth of shares of YandexPutin helped the growth of shares of Yandex

News24xx.com - According to the trading platform, Yandex shares during the trading on the Moscow Exchange grew by 5.8% to the closing level of the previous session. The statement by Russian President Vladimir Putin on tax cuts for the IT industry to the minimum that he made during his appeal to the Russians on June 23 helped the quotes rise.

The value of Yandex shares reached 3331.2 rubles per share at the time of publication, updating the historical maximum. Also, shares of other companies showed growth. For example, the cost of securities of the Qiwi electronic payment service jumped 1.1%, reaching 1,199 rubles apiece, while Mail.ru quotes rose 10.4%, the share price amounted to 1,426.2 rubles.

The head of state proposed to permanently reduce insurance premiums from 14 to 7.6%, as well as lower the income tax rate for representatives of the IT industry from 20 to 3%. According to Putin, Russia will have one of the lowest tax rates in the world.

There is a clarification to this news: what can be claimed by those Russian IT companies in which at least 90 percent of the revenue comes from the sale of software and services for its development, implementation and support.





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