The Ministry of Finance sees no point in imposing a tax on companies returning to Russia

The Ministry of Finance sees no reason to impose an additional tax on foreign companies when they return to Russia, said Ivan Chebeskov, director of the Finance Ministry’s financial policy department. He noted that foreign companies will have to buy their assets in the country at market value.

“There is no such thing as paying extra tax on a return. They will need to buy their business back, that is, if they leave, it means that they have sold their business. If they return, they will need to purchase assets here at market value,” Mr. Chebeskov said at the Digital Finance: New Economic Reality forum (quoted from “RIA News”).

Ivan Chebeskov added that the Ministry of Finance does not evaluate the number of companies that would potentially like to return to the Russian market. At the same time, according to him, the department welcomes investors who want to come to Russia.

In March 2022, the government established a rule according to which transactions of companies from unfriendly countries must be approved by a special commission. In the event that assets are sold at a discount below 90%, non-residents must contribute to the budget of the Russian Federation at least 5% of their market value. If the discount exceeds 90%, then the contribution must be at least 10%.

Olesya Pavlenko