Russia's New Electronics Tax for Defense Boost

Russia introduces new tax on imported electronics to fund domestic industry growth, particularly in defense sector, amidst challenges in acquiring Western chips and competing globally in AI development. The tax, set to start in September 2026, initially targets smartphones and notebooks, with plans to expand to their components. This move is part of broader budget balancing measures, including VAT and small business tax increases, to offset high military spending and decreased energy revenues.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.