Putin extends capital amnesty program to February 2020
Russian President Vladimir Putin signed a bill to extend the capital amnesty program. The document is published to the legal information portal.
The third stage of asset and account declaration is June 1, 2019 to February 29, 2020.
The first stage of the capital amnesty programs began in 2015-2016. During that time, 7.2 thousand people were able to disclose their foreign property and companies, while avoiding tax penalties. During the second stage, amnesty was extended to February 28, 2019.
Earlier, the Ministry of Finance stated that the ministry would not extend the capital amnesty program in its current form, but was willing to provide safeguards for its investors transferring assets to Russian offshore companies (special administrative districts on Russian islands in Vladivostok as well as Oktyabrsky island near Kaliningrad).