The Ministry of Finance proposed to soften the terms of the Amnesty
Moscow. November 10. The Finance Ministry has prepared proposals aimed to strengthen Amnesty of capital, which is now actually fails, reports the newspaper “Kommersant”.
The law on the voluntary Declaration by individuals of assets and accounts, is known as the law on the legalization or Amnesty of capital, earned from 1 July, the Declaration to the tax authority must be submitted before December 31. The Declaration may include information about the property of a citizen (real estate, securities), on controlled foreign companies the declarant, his accounts in foreign banks. The assets declared under the Amnesty will not be subject to lump-sum taxes and duties, members of the Amnesty will be exempt from criminal responsibility under articles about the evasion of repatriation of money, for the payment of customs duties, taxes and charges.
A month ago, Prime Minister Dmitry Medvedev held a meeting on which declared that the process of Declaration of assets within Amnesty is slow, it need more solutions.
According to “Kommersant”, the initiative on this issue the Ministry of Finance formulated in the letter to the first Deputy Prime Minister Igor Shuvalov. The head of Department Anton Siluanov noted that the issue of Amnesty “are associated with the inability to predict future potential declarants of the law enforcement practice of state bodies”.
The Agency proposes to expand the list of declared assets, to exempt from the necessity of the repatriation of the shares of offshore companies, and for clearing credit history to allow the declarant to declare the tax on the property sold, the newspaper said.
Now the law promises protection from persecution regardless of whether, if returned to the Russian Federation, movable property, but this provision shall not apply if the property is located in a state from the list of the FATF or in a country, evading the exchange of tax information. This design raises questions – so, it is not clear what exactly is meant by repatriation, which of the three lists and the FATF list of non-cooperating States to use, in addition, the law does not specify the period in which you want to repatriate undeclared assets. In this regard, the Ministry of Finance proposes to clarify that you should focus on the “black list” of FATF (Iran, DPRK), and “uncooperative” to understand the state with which Russia does not have agreements on avoidance of double taxation and which had not ratified the Convention on mutual assistance in tax matters. Under the repatriation of assets the Ministry of Finance suggests to bring only cash, and not securities and other property – that is, the return requirement may apply only to balances, notes “Kommersant”.
The Finance Ministry proposes to make amendments and the Amnesty law – specifically, to expand the list of declared assets at the expense of the estate, credits, rights on objects of intellectual property. It is also proposed to give the possibility to declare the property not already owned by natural persons.