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Intellectual Activity Results taken as income from 2020

Intellectual Activity Results taken as income from 2020

There was an exemption from considering results of intellectual activity and development that was found during the inventory in 2018 and 2019 as income. The Ministry of Finance noted that it would not extend this exemption: two years is a sufficient period for companies to put the accounting system in order without tax consequences. Now, as well as the goods identified during the inventory, these results will be required to take in revenue.

Thus, organizations that have not yet taken an inventory should strive to do so before the end of this year.