The Ministry of Finance has proposed to extend the benefits for companies when they move to “Russian offshores” on the Russky and Oktyabrsky islands, writes RBC. The Office has submitted amendments to the bill on tax benefits for residents of special administrative regions (SAR). The bill was approved at first reading in May.
In particular, the Ministry of Finance proposes establishing a black list of offshore companies for the purposes of dividend taxation in the RAE as of March 1, 2022. That is, until the moment “unfriendly” countries were included in the list. “. This option will be used until the end of 2026.
The amendments also propose extending the right to provide documents and information for international holding companies (IHCs), which have received SAR registration, until the end of this year.
In addition, it is proposed to abolish for international companies that received registration in the order of redomiciliation of foreign structures in the RAE before March 1, 2022, the condition that requires them to maintain a participation of at least 75% of the direct / indirect participation of controlling persons.
The amendments also expand the list of organizations that may be exempt from property tax outside the Russian Federation used in geology, exploration and mining projects.
In addition to the relaxations, the Ministry of Finance proposed some adjustments. We are talking about a restriction for companies from cities of federal importance to move to the RAE. Currently, companies that contribute more than 1% of income tax to regional budgets are deprived of the opportunity to move to “Russian offshores”. The Ministry of Finance proposes lowering this threshold to 0.1%.
Author:
Natalia Gormaleva
Source: RB
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