OREANDA-NEWS. December 30, 2011. ARMADA OAO (MICEX-RTS: ARMD) hereby announces that all companies of the ARMADA group will be eligible for a reduced insurance tax rate next year.

Software developing companies from ARMADA group will be eligible for a reduced insurance tax rate 14% of payroll in the next year — under the government’s program to support the IT sector in 2011-2017.

The social insurance tax for the other companies in ARMADA group will be reduced to 30% of payroll from 34% in 2012-2013. The tax will be lowered in line with Federal Law No. 379-FZ of December 3, 2011 "On Amending Certain Legislative Acts of the Russian Federation with Respect to Setting the Rates of Insurance Contributions to State Non-Budget Funds".

"Lower tax burden will be an additional factor for ensuring high profitability of ARMADA’s business, which is obviously important for the company’s shareholders," Alexey Kuzovkin, chairman of ARMADA OAO’s board of directors, said.