Russia to levy 10% tax on sale of businesses by foreign companies — minister

MOSCOW: Russia plans to introduce a 10% tax on sales of businesses by foreign companies, Finance Minister Anton Siluanov said in an intervie...

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MOSCOW: Russia plans to introduce a 10% tax on sales of businesses by foreign companies, Finance Minister Anton Siluanov said in an interview aired on Rossiya-24 television on Friday.

"We have made a decision that there will be a 10% tax on the exit of foreigners from Russia. That means we are creating conditions for foreign companies, on the contrary, to continue working here, so that it’s not beneficial for foreign businesses to go for the exit, <...> creating conditions for all these support measures to continue here, so all these stimulus measures continue and apply to our businesses regardless of who owns them - Russian shareholders or foreign ones. So if a decision to leave has been made - then yes, but the exit will be associated with certain costs, including this exit tax of 10% to be levied on the amount of the deal to sell the business in Russia," he said in the interview with Nailya Asker-zade.

-News Feed