The Ministry of Economics predicted the growth of taxes in “geometric progression” from residents of the SAR

The active relocation of companies to Russian offshores – special administrative regions (SAR) on Oktyabrsky Island in Kaliningrad and Russky Island in Vladivostok – will ensure the growth of tax revenues from them “exponentially”. The main source will be taxes on dividends of international holdings that have changed their corporate residence due to sanctions. Such a forecast in a conversation with Vedomosti at SPIEF was expressed by First Deputy Minister of Economic Development Ilya Torosov on the sidelines of the forum.

The SAR mechanism has two conceptual ideas, Torosov recalled: the creation of an institution with a unique corporate and tax law for Russia with a number of preferences, as well as competition with other offshore foreign jurisdictions. At the same time, the Ministry of Economy does not see the risks of creating a gray zone in special areas that can be used by companies to evade taxes – the tool, on the contrary, creates the potential to increase regional and federal budget revenues.