Beiten Burkhardt

Newsletter German-Russian Tax Practice, April 2018

Tax amnesty in Russia

Second stage of the tax amnesty in Russia

A Law extending the tax amnesty of capital and the tax-free liquidation of foreign companies entered into force in Russia on 1 March 2018. The tax amnesty has been extended until the end of February 2019.

The first stage of the tax amnesty occurred in 2015-2016 and provided taxpayers with an opportunity to disclose their foreign assets that had not previously been declared, including real estate, foreign bank accounts and deposits, shares and participation interests in foreign companies, without incurring any penalties. The amnesty rules also apply to the beneficial owners of the indicated assets.