Budget revenues from transactions with foreigners exceeded the forecast for the year by 66 times

The revenues received by the federal budget in the first eight months exceeded the plan for the whole of 2024, RBC writes.

According to the state system “Electronic Budget”, cited in the publication, as of August 21, the amount of such revenues amounted to 139.34 billion rubles, compared to 116.5 billion rubles for the whole of 2023.

According to the Ministry of Finance, the contribution for foreign companies leaving the market is 15% of the value of the asset sold. In this case, as a rule, the fee is paid by the buyers, not the sellers.

Such transactions are impossible without the approval of a government commission and the assets are sold at a 50% discount. Payment of the fee is one of the key factors in the settlement of the transaction.

A government subcommittee is currently considering many applications for such transactions, says Alisa Melkonyan, a partner in Kept’s legal and tax consulting department.

“Some foreigners ask for permission to pay interest and dividends, although in practice it is clear that the probability of an agreement is low,” Melkonian said.

Some foreign companies are delaying their exit from the Russian market in hopes of a change in the political situation, said Yuri Nikolaev, managing partner of Nikolaev and Partners.