Foreign business looking for to leave Russia will be required to pay a heftier $ exit tax $ and $ voluntary contribution $ to the state treasury, Finance Minister Anton Siluanovsaid Thursday, confirming earlier reporting of the planned increase.
$ The discount rate for foreigners will increase from 50% to 60%, $ Siluanov, who heads a federal government financial investment commission that authorizes foreign possession sales, informed reporters.One-time contributions to the Russian treasury will increase $ immediately from 15% to 25%, plus 5% within a year and 5% the following year, amounting to 35%, $ Siluanov added.He did not discuss reports from recently that President Vladimir Putin would for the first time personally authorize offers worth more than 50 billion rubles ($520.3 million).
Numerous mainly Western companies either fully exited or downsized operations in Russia following its full-blown invasion of Ukraine in February 2022.
Moscow later that year presented high mandatory discount rates and charged an exit fee for foreign business.
Those figures have been slowly raised as Western firms staying in Russia deal with criticism that their exits would help money Russia $ s war economy.