Putin extended a capital Amnesty prior to March 1, 2020

Путин продлил амнистию капиталов до 1 марта 2020 года

The President of Russia Vladimir Putin signed on the eve of the amendments to the law “On voluntary Declaration of assets by individuals and accounts (deposits) in banks and on amendments to certain legislative acts of the Russian Federation”. We are talking about the so-called Amnesty. In article 5 point was made: “From 1 June 2019 to 29 February 2020 (for the purposes of this Federal law – the third stage of the Declaration)”. The document published on the official portal of legal information.

It is noted that the law comes into force from the day of its official publication.

Recall that the current Amnesty implies that citizens can declare derived from the Russian capital in the country without paying taxes on disclosed assets. The transfer of accounts and assets to Russia while optional.

After March 1, 2019, the capital Amnesty will apply to individuals to return the money in Russia or preregistered assets in the special administrative regions. The first wave of Amnesty was carried out in 2015-2016. The second stage was in effect from March 1, 2018 during the year.