Increase of mandatory contribution upon sale of Russian business by foreigners
To sell Russian business owned by residents of «unfriendly» states, it is obligatory to obtain a permission of the Government Commission for Control over Foreign Investment. The conditions for obtaining the permission used to be a contribution to the Russian budget in the amount of 15% of market value of assets and a 50% discount.
Due to frequent amendment of the market value of the assets to be sold in appraisals, the authorities decided to increase the amount of the contributions from 15% to 35% and the amount of the discount from 50% to 60%.
If the transaction exceeds 50 billion rubles Presidential approval will be required.
