Putin: tax exemption on the capital repatriated to Russia needs to be extended
"The first is to extend the amnesty period for capital, referring to those external restrictions that do not become smaller, but, on the contrary, appear to have a tendency to increase," he said at a meeting with Russian MPs.
Putin also proposed to exempt those entrepreneurs who transfer business from abroad to Russia from income taxes.
The amnesty on capital was effective in the country from July 1, 2015 until June 30, 2016. This rule allowed Russian taxpayers to voluntarily declare their assets and accounts in foreign jurisdictions. In exchange, those who declare their capital were exempted from criminal or administrative responsibility and from paying taxes for past periods.