The budget Committee of the state Duma supported the extension of the Amnesty of capital


It is anticipated that the document will be adopted by the MPs into law in December. The amendment was proposed by Deputy Andrey Makarov. Earlier Vladimir Putin has proposed to extend the Amnesty of capital for six months and make this mechanism some adjustments.

MOSCOW, Dec 14. The state Duma Committee on budget and taxes supported the extension of the Amnesty of capital for six months — until July 1, 2016.

The relevant amendment, introduced by Deputy Andrei Makarov, was supported by the Committee on Monday in preparation for the second reading of the bill about saving for 2016 of coefficient deflator for the calculation of the tax base for the unified tax on imputed income at the level of 2015. The MP said he was ready to withdraw the amendment, only the government will submit a bill on this subject.

At the plenary meeting, the document will be submitted on 16 December. It is anticipated that the document will be adopted by the MPs into law in December. Already this year the Finance Ministry will start consultations with business and the Supreme court concerning clarification of the mechanism of Amnesty of capital.

The Minister of Finance of the Russian Federation Anton Siluanov explained to journalists that to start consultations now, “in the beginning of next year to amend the law, and to the time necessary to ensure that our entrepreneurs could use the mechanisms of the Amnesty of capital, which can be renewed for another six months”.

The President of Russia Vladimir Putin, speaking on December 3 with the 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.