President Putin signed laws extending a capital amnesty period

President Putin signed laws extending a capital amnesty period

 

On February 19th 2018 Russian President Vladimir Putin enacted a set of laws extending a capital amnesty period from March 1st 2018 through February 28th 2019.

The list of the respective laws includes:

  • Amendments to RF Tax Code regarding CFC (controlled foreign companies) income taxation and income of foreign organizations
  • Amendments on introduction of changes into Article 76-1 of RF Crimical Code in terms of extension of the norm validity period concerning exemption from criminal liability
  • Amendments to Federal Law "On voluntary declaration of assets and accounts (deposits) with banks by individuals and on introduction of changes into separate legislative instruments of the Russian Federation" (in terms of extension of a "capital amnesty" period)

It should be reminded that the first stage of amnesty took place from July 1st  2015 through June 30th 2016, however, following its results it became obvious that it required extension and further elaboration.

At the second stage of amnesty both those who applied for at the first stage and those who failed to participate in capital amnesty earlier will be able to declare their property and bank accounts.

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