Cabinet approved draft laws on capital amnesty


April 11, Fineko/ At a meeting on Thursday the Russian government approved a package of draft laws on the third stage of capital amnesty.

"All the bills have been endorsed, including on the amnesty of capital," the Cabinet Ministers’ press service informed.

The Russian government considered the draft laws that extend until 1 March 2020 the period of voluntary declaration of assets and accounts in banks by individuals with the preservation of all the established guarantees, subject to the repatriation of money by these persons, state registration within the framework of the change of jurisdiction of foreign companies controlled by them in special administrative areas in the territories of Kaliningrad Oblast and Primorsky Krai.

It will be possible to submit a declaration on the new stage from 1 May 2019 to 29 February 2020. Earlier, Russian President Vladimir Putin proposed to extend the "capital amnesty" for at least one year, but only for those who transfer funds to Russia and register business in special administrative zones.