Putin extended the tax-free transfer of the foreign assets in Russia to 2019

© RIA Novosti / Maxim to Aminopherase in Photobacterium of the Russian Federation Vladimir Putin. Archival photoPutin extended the tax-free transfer of the foreign assets in Russia to 2019© RIA Novosti / Maxim to Aminopherase the image Bank

Russian President Vladimir Putin signed a law extending until 2019 period, the tax-free transfer of foreign assets to Russia in order to stimulate this process, published on the portal of legal information of the document.

The document extends until January 1, 2019 transition period during which citizens are exempted from criminal liability for non-payment or incomplete payment of tax due to the non-inclusion in the tax base of the controlling entity profit of a controlled foreign company, subject to reimbursement in full caused to the budget system of the Russian Federation damage.

The effect of this provision is proposed to be extended to give additional time to those who want in accordance with the law to transfer their assets to the jurisdiction of the Russian Federation, explained earlier, Prime Minister Dmitry Medvedev.

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