the government wants to extend the exemption of businessmen from taxes when transferring assets from abroad – Kommersant
[ad_1]
The government plans to exempt businessmen from personal income tax by the end of 2023 who will rewrite assets from foreign structures into personal property. Such a measure is provided for by the amendments prepared by the Ministry of Finance for the second reading of the bill on changes in tax legislation, found out Forbes.
An exemption for those who transfer their assets from offshore structures to personal property was approved as a measure of protection against sanctions. Its operation ended in 2022. The exemption, in particular, exempts from tax income from the transfer of securities and shares in the authorized capital of Russian companies, rights of claim, options, pledges and shares of investment funds into personal ownership. All individuals-residents of Russia, regardless of citizenship, were exempted from the tax.
According to the text of the bill, which Forbes has read, there are no restrictions on the “purity” of jurisdiction. The extended benefit will also be available to owners of controlled foreign companies in offshore and tax havens.
In March 2022, the government allowed businessmen to re-register assets from foreign structures into personal property without paying personal income tax. A similar measure was taken in 2015-2019. But in 2022 it was possible not to liquidate foreign structures.
During the address to the Federal Assembly in February 2023 to deoffshorize business urged Russian President Vladimir Putin. In early June, the Ministry of Economy presented corresponding plan. It involves tax incentives, protection of shareholders, simplification of relocation and fine-tuning the regulation of international funds.
About what measures the ministry had previously proposed – in the material “Kommersant” “A new path will be paved to “Russian offshores””.
[ad_2]
Source link
