Russia plans a new tax on electronics, generating $2.7 billion in proceeds for the domestic electronics industry, including defense. Sanctions have blocked access to Western hardware, hindering competitiveness in artificial intelligence. The tax, effective in September 2026, aims to support domestic producers and balance the state budget amid high military spending.

Deputy Finance Minister Alexei Sazanov emphasizes the strategic importance of import substitution in the electronics industry, especially for defense capabilities. With limited access to high-tech products due to external restrictions, import substitution is crucial. The government will initially target imported smartphones and notebooks, expanding to their components.

The new tax on electronics in Russia, expected to take effect in September 2026, aims to support the domestic electronics industry, including defense. With Western hardware access blocked by sanctions, the tax seeks to boost competitiveness in artificial intelligence and other sectors requiring advanced computing power.

Read more at Yahoo Finance: Russia plans new tax on electronics to boost its defence capacity