SKOLKOVO PROPOSES TO BENEFIT BUSINESS ANGELS SUPPORTING START-UPS
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SKOLKOVO PROPOSES TO BENEFIT BUSINESS ANGELS SUPPORTING START-UPS

Skolkovo Fund has proposed that business angels could have a half of their investment to high technology start-ups repaid. This initiative is a part of a plan for development of digital economy control. Business angels will have an opportunity to retrieve a half of their investment to start-ups that pass technological examination through tax relief.

Sergei Izrailit, head of Skolkovo’s development and planning department, explained that business angels will have an opportunity not to pay taxes until they refund the amount equal to a half of such investment.

There are some restrictions in the draft law. This benefit will be available only to the companies operating over three years. The benefit cannot exceed 5 million rubles. According to estimates, the return on investment for business angels will increase by up to 19%, amount of investment will grow ten times for five years. It will also create 7,000 new jobs and reduce outflow of professionals.

The Ministry of Economic Development of Russia hopes that it will stimulate business angels to invest in start-ups at an early stage. The Ministry of Finance considers this tax relief unreasonably high and proposes higher tax relief for social issues instead.