Putin freed from taxes of sanctioned Russians

Russian President Vladimir Putin signed a law allowing the Russians, who fell under the sanctions, not to report the income and pay taxes in Russia on special occasions. The law is retroactive, it is effective from 1 January 2014, reports “Radio Freedom”.

The law allows Russians who have business or property abroad, and affected by sanctions, not to become tax residents of Russia.

On March 29 the bill was approved by the Federation Council, the upper house of the Russian Parliament. Also, the Russian state Duma adopted in the third reading an appropriate amendment to the Tax code.

We will remind, in the list of U.S. sanctions included 56 Russians, EU – 157 citizens of Russia and Ukraine. Thus, the role of these persons in the annexation of Crimea and support for Pro-Russian separatists. Among them there are entrepreneurs Roman and Arkady Rotenberg and Gennady Timchenko, who are considered close friends of President Vladimir Putin.