Russia: President signed Law No.479-FZ on Taxation of Advertising Revenue for Online Platforms

On 26 December 2024, the President signed Law No.479-FZ on Taxation of Advertising Revenue for Online Platforms. The Law amends Federal Law No. 38-FZ on Advertising and mandates distributors of online advertising to remit 3% of their quarterly income derived from promotional activities targeting Russian consumers to the federal budget. The Federal Service for Supervision of Communications, Information Technology, and Mass Media (Roskomnadzor) will calculate the advertising fee based on income data submitted by the payers.