Newsletter

Exit tax increase to at least 15% of 100% of the market value.

03 October 2023

The new rules regarding calculation method of voluntary contribution to the federal budget (“exit tax”) will came into force.

Previously, the exit tax had to be paid in the amount of not less than 10% of 50% of the market value of the relevant assets specified in the Independent valuation report (if the assets are sold at a discount of less than 90% of the market value of the relevant assets specified in the Independent valuation report), or not less than 10% of the market value of the relevant assets specified in the Independent valuation report (if the assets are sold at a discount of more than 90% of the market value of the relevant assets specified in the Independent valuation report). In addition, several ministries only agree to review the application if the exit tax is at least 15%.

Currently, according to Ivan Chebeskov, Director of the Financial Policy Department of the Ministry of Finance, the exit tax will be increased to at least 15% of 100% of the market value of the relevant assets specified in the Independent valuation report for all transactions (i.e. regardless of the sponsoring ministry). The relevant decision of the Sub-Commission will be published accordingly.


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Note: Please be aware that all information provided in this letter was taken from open sources. Neither ALRUD Law Firm, nor the author of this letter bear any liability for consequences of any decisions made in reliance upon this information.

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ALRUD Law Firm