“Russia is going to create offshore companies to fall under the sanctions of businessmen

They will be able to return capital to Russia without paying taxes and not disclose of the information

Photo: ingimage/vostock-photo

– The Russian government has decided to intensify work on the draft law on special regimes with signs of offshore companies on the Islands of Russian (Vladivostok) and October (Kaliningrad) to support the Russian business came under new us sanctions, according to the newspaper “Vedomosti” referring to Federal officials.

The development of the draft law intensified on the background of the inclusion of a number of Russian businessmen and companies in the “black list” of the U.S. Treasury, which on Monday led to the collapse of the Russian stock market, a significant growth of the Euro and the dollar, and the fact that the richest Russian businessmen for a day has lost more than $12 billion.

The bill prepared by the Ministry of economic development and now is at the stage of interagency coordination, the adoption in the state Duma is planned in the spring session, the newspaper notes with reference to the representative of the Ministry. The sources say that such a bill was discussed for a long time, “but with the tightening of U.S. sanctions remembered – now need mechanisms for the return and storage of the capital in Russia”.

The concept for the establishment of special administrative regions (SAR, this Chinese term is used in the discussions of the officials) didn’t stop – so, the correspondence between agencies on this subject was in March, said the source “Interfax” in the financial-economic bloc of the government.

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That such a bill is developed, in early February, said Deputy Finance Minister Alexei Moiseev. He noted that the Finance Ministry is considering the launch of organised trading cryptocurrency on the Islands Russian and October.

“Bill, we’ve posted, provides for the sale (cryptocurrencies – if) on the exchange market. In principle, we are considering the implementation of organised trading on the Russian island, the island of October. But of course, we believe it is necessary in Russia the exchange to allow. It may not be in a common area, but within the framework of special areas, such as “Free port”. There is already an element of offshore. Now preparing the draft law on island Russian and October, where there will be even more special regime”, – said Moiseev.

“Those who want to return the money in Russia will be able to do it quickly without tax: draft allow you to transfer foreign entity in Russia from other countries, including offshore companies, retaining their legal form. The company will be able to transfer as soon as possible the capital entirely in Russia with preservation of familiar legal and financial infrastructure without paying taxes on foreign income” – describes the procedure of return of capital to the newspaper, citing officials.

To do this, the resident zones will be able to obtain the status of international business companies the opportunity to register a company in one day, and some of the information not to disclose (for example, about the participants and management). Also introduced flexible rules for joint agreements and transactions for the disposal of assets, the possibility of dividing shares into classes.

“Taxes on residents of the zones will be charged only on income received in Russia, income received outside of Russia, is not taxed”, – notes the edition with reference to the representative of the Ministry of economic development.

In addition, we discuss exemptions from labor law, corporate, currency and tax regulations, such as the abolition of exchange controls, the ability to pay in the currency of, and exceptions to the rules of work of educational and healthcare companies and organizations providing IT services.

We also discuss the possibility of exempting such companies from the agreements on avoidance of double taxation and rules on controlled foreign companies (from 2017 with their retained earnings people have to pay a tax of 13%, and company – 20%).

“Get special status only residents of special areas, but perhaps part of the proposals will be transferred to the whole country after the experiment. Many of the proposals appeared at the request of the business”, – the newspaper writes with reference to the representative of the Ministry of economic development.

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