Media: the Ministry of Finance prepared a proposal for the revitalization of the Amnesty

MOSCOW, 10 Nov. The Finance Ministry has prepared proposals on how to strengthen Amnesty of capital, writes on Tuesday “Kommersant” with reference to the letter of the head of Department Anton Siluanov, first Deputy Prime Minister of Russia Igor Shuvalov.

According to the law on Amnesty of capital, in 2015 in Russia it is possible to voluntarily declare their foreign assets, Bank accounts, securities, shares in equity of organizations and controlled foreign companies (CFC). While filers will be exempt from criminal, administrative and tax liability, if related to the declared property violations were committed prior to January 1, 2015, and only to the extent of the property specified in the Declaration.

In early October, Prime Minister Dmitry Medvedev acknowledged that the Declaration process is slow, and instructed the departments to prepare proposals on accelerating the process.

According to the proposals of the Ministry of Finance, the newspaper writes, the necessary clarification of the law, are mandatory for the officials. In particular, the law now promises the declarant protection from persecution, regardless of whether they return to the Russian Federation, movable property, but this provision will not apply if the property is located in a state from the list of the FATF or in a country, evading the exchange of tax information.

So, the Finance Ministry proposes to formally clarify that you should focus on black, very short list of the FATF (Iran, DPRK), and under non-cooperating countries to understand the countries with which Russia does not have agreements on avoidance of double taxation and the countries that have not ratified the Convention on mutual assistance in tax matters. Under the repatriation of assets the Ministry of Finance suggests to bring only cash, and not securities and other property — that is, the return requirement may apply only to account balances.

The Ministry of Finance also supported the adoption of the amendments and the Amnesty law. One of them is supposed to remove a conflict between this document and the law 115-FZ on combating money laundering. Another amendment expands the list of assets — at the expense of the estate, credits, rights on objects of intellectual property. It is also proposed to give the possibility to declare the property not already owned by natural persons. Finally, we propose to give an opportunity to other than the declarant, the persons to receive in tax “information and documents in respect of itself and in order to obtain guarantees”.