A 10% tax will be introduced on the sale of business for foreign companies in the Russian Federation

Transactions of foreign companies selling businesses will be taxed at 10%, Finance Minister Anton Siluanov said. It was announced on April 14 TASS.

He said that the decision would affect the conditions of foreign businesses that continued to work here. They will not benefit from the exit.

In addition, Siluanov stressed that Russia is interested in foreign companies remaining in the country. The minister noted that they allow saving jobs, as well as developing the economy and production. He also added that the agency does not prevent the withdrawal of part of the dividends to its parent companies abroad.

“Therefore, if a decision is made to leave, the exit will be associated with certain costs, including this 10% exit tax on the amount of the transaction for the sale of a business in Russia,” Anton Siluanov noted.

The Minister of Finance also said that in 2023 the Ministry of Finance plans to borrow 3.5 trillion rubles and repay 1 trillion. This is necessary to fulfill all plans for borrowing this year.