Non-residents of “enemy” countries were required to pay a “voluntary” contribution from the sale of assets in Russia. It will be at least 10% of half of its market value.
The Government Commission for the Control of Foreign Investments ordered foreigners from “enemy” countries to pay a contribution to the Russian budget in the amount of 10% of half the market value of assets in Russia, subject to their sale. This was reported by Interfax with reference to an extract from the minutes of the commission meeting.
If the discount on the value of the assets sold is 90% or more, the 10% fee will not be calculated on half the value of the assets, but on their full value. The statement states that this fee is “voluntary.”
The conditions that foreigners must meet to exit their Russian assets came into force in December 2022. These conditions include a discount on the market value of assets of at least 50% and payment in installments. Payment of a contribution to the budget in the amount of 10% was also earlier, but earlier it was considered an additional condition for the transaction, and not mandatory.
Author:
Kirill Bilyk
Source: RB
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