Russian authorities plan to force foreign companies leaving the Russian Federation to pay a one-time fee for excess profits. They want to send the corresponding revenues to the federal budget by analogy with the unexpected tax for representatives of large Russian enterprises. informs Bloomberg agency, citing the source.
At the same time, foreign organizations are already required to sell their assets at a 50% discount when leaving the Russian market. Now the Russian authorities want to further complicate the conditions for the termination of activities of foreign companies in the domestic market of the Russian Federation. The article states that several major companies are currently waiting for permission to leave Russia, including Volkswagen, UniCredit, Raiffeisen Bank International and others.
“Russia has given another surprise to foreign companies preparing to leave the country with a new fee scheme, in addition to the requirement to sell their assets at a 50 percent discount and obtain government approval to cease their operations in the Russian Federation. Similar to the unexpected tax imposed in Russia, it will also apply to those who plan to go out of business. This measure may affect the final price agreed upon as part of the sale of assets,” the material says.
At the same time, no tax relief will be provided to foreign companies wishing to exit the Russian market. The note concludes that the government of the Russian Federation strongly needs to close the growing deficit of the federal budget, as it will not refuse the opportunity to take additional cuts from foreign firms.
April 18, Vedomosti newspaper, citing the source reportedHe said the Ministry of Finance (Minfin) is offering to impose an unexpected tax as a one-off fee or “emergency tax” from representatives of Russian large enterprises. The Ministry also wants to consolidate the possibility of its establishment in the Tax Law (TC).