Russia To Introduce Low, Fixed Business Income Tax Rates To Encourage Russian Investors Back To Russia
Russia’s Finance Ministry has proposed a fixed income tax rate for Russian shareholders of foreign companies in Russia. The amendments to the tax code would introduce a fixed tax rate of 5 million rubles per annum (US$64,600) per annum, without the need to file audited accounts. The rates will be applicable for five years.
The move is part of an on-going scheme to motivate Russian nationals to return to investing and holding capital and profits in Russia. This coincides with Russia amending its Double Tax Treaties with several favored tax havens including Cyprus and Malta that reduce the tax free threshold in offshore jurisdictions for Russian nationals.
- Russia To Raise Income Tax Rate To 15% On Annual Earnings Over Rubles 5 Million
- Russia Raises Tax Rates For High Earners, Reduces Taxes For I.T. Investors
Russia Briefing is written and produced by Dezan Shira & Associates. During these uncertain times and sanctions imposition, our firm assists Russian companies relocate to Asia, and provides financial and sanctions compliance services to foreign companies operating in Russia. We also provide market research and advisory services to foreign exporters interested in Russia as the economy looks to replace Western sourced products. Please contact us at firstname.lastname@example.org or visit us at www.dezshira.com.