MOSCOW, 10 Dec. The Russian Cabinet of Ministers will discuss a bill to extend until July 1, 2016 of the deadline for submission of special declarations under the voluntary Declaration of physical persons assets and Bank accounts, said the press service of the government.
“To provide interested citizens additional opportunities to take advantage of provided by the Federal law “On the voluntary Declaration of physical persons assets and Bank accounts (deposits) in banks and on amendments to certain legislative acts of the Russian Federation” guarantees the bill proposes to extend the deadline for the submission of special declarations under the voluntary Declaration of physical persons assets and Bank accounts (deposits) in banks until July 1, 2016″, — stated in the message.
The President of Russia Vladimir Putin, speaking last week with a message to the Federal Assembly, has proposed to extend the Amnesty of capital for six months and make this mechanism some adjustments. According to the President, suggested last year the procedure was complicated, and guarantee the Amnesty of capital is not sufficient, therefore the business does not hurry to take advantage of this opportunity.
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 CFC (controlled foreign companies). 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.