abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb

The content is also available in the following languages: Русский

Article

20 Sep 2024

Author:
Reuters

Russian govt. plans to increase 'exit tax' up to 40% for foreign cos., according to local media

Russia discussing hefty hike in 'exit tax' for foreign firms, RBC reports, 20 September 2024
Russian authorities are discussing raising the one-off contribution that foreign companies leaving the country must make to the state budget to as high as 40% from 15%, the RBC daily reported on Friday, citing four sources.

Russia has steadily tightened exit requirements for foreign companies since Western sanctions were imposed over Moscow's invasion of Ukraine, demanding sharp discounts on any deal before giving approval, and taking a portion of the sale price to bolster state coffers, dubbed an "exit tax" by Washington.

Budget contributions from foreign company exit deals reached almost 140 billion roubles ($1.51 billion) by the end of August, budget data showed, already surpassing last year's total of 116.5 billion roubles...

The "exit tax" was initially set at 10%, but has crept up to 15%...

Two people RBC spoke to said the contribution could be raised to as high as 40%.

"We are constantly discussing the effectiveness of the sub-committee's work and approaches to reviewing deals," the finance ministry said in response to a request for comment. "At the moment, no new decisions have been made"...

Privacy information

This site uses cookies and other web storage technologies. You can set your privacy choices below. Changes will take effect immediately.

For more information on our use of web storage, please refer to our Data Usage and Cookies Policy

Strictly necessary storage

ON
OFF

Necessary storage enables core site functionality. This site cannot function without it, so it can only be disabled by changing settings in your browser.

Analytics cookie

ON
OFF

When you access our website we use Google Analytics to collect information on your visit. Accepting this cookie will allow us to understand more details about your journey, and improve how we surface information. All analytics information is anonymous and we do not use it to identify you. Google provides a Google Analytics opt-out add on for all popular browsers.

Promotional cookies

ON
OFF

We share news and updates on business and human rights through third party platforms, including social media and search engines. These cookies help us to understand the performance of these promotions.

Your privacy choices for this site

This site uses cookies and other web storage technologies to enhance your experience beyond necessary core functionality.