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The capital amnesty is extended

DATE: February 13, 2018 | AUTHOR: AT

On January 9, 2018, the State Duma passed a set of laws on extension of the capital amnesty till February 28, 2019. Russian citizens, who will declare their foreign assets from 01.03.18 till 28.02.19, will not be held liable for violations of tax law and currency regulations connected with the purchase or use of such assets. The amnesty will cover operations with accounts in foreign banks, provided that, as of January 1, 2018, they remained open (and were opened before that date). In addition, individuals, whose companies will be liquidated before March 1, 2019 will be granted a relief from personal income tax on CFC’s liquidation proceeds (including money).

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