A package of laws necessary for a new, fourth stage of capital amnesty in the country was signed. As part of the fourth stage of the amnesty, individuals have the right to submit to the Federal Tax Service a declaration containing information about property (land plots, other real estate objects, vehicles, securities, financial assets, including shares, as well as participation shares and shares in the authorized (stock) capitals of Russian and (or) foreign organizations), he is the owner or the actual owner. In addition, it is possible to declare cash in rubles or in foreign currency, which are planned to be transferred to deposits in banks of the Russian Federation, as well as vehicles. Cryptocurrencies will not fall under the amnesty.
All individuals, including those who have already filed a declaration under the first, second, and/or third stages, will be able to participate in the fourth stage of the capital amnesty.
The declaration can be submitted in the period from March 14, 2022 to February 28, 2023.
We bring to your attention the key points of the so-called fourth stage of voluntary declaration of assets and accounts (deposits in banks).
In comparison with the previous versions of the law, the guarantees provided remained unchanged, provisions regarding cash and vehicles were added: in order to receive guarantees, it is necessary to deposit cash into accounts (deposits) in Russian banks and re-register the vehicle in Russia. The guarantees apply to acts committed before January 1, 2022 (in terms of currency legislation – before the date of submission of the declaration).
Individuals will be able to grant amnesty to a number of assets from March 14, 2022 to February 28, 2023, including foreign accounts opened before January 1, 2022 (including accounts (deposits) closed on the date of submission of the declaration), foreign companies, cash, as well as vehicles if the following conditions are met:
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transfer before the date of submission of the declaration of all funds or financial assets from the accounts (deposits) specified in the declaration, in banks or financial market organizations located outside Russia, to accounts in Russian credit organizations or organizations of the financial market of the Russian Federation;
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depositing the cash indicated in the declaration to accounts (deposits) in the Bank of the Russian Federation within 30 days from the date of submission of the declaration to the tax authority;
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re-registration in the relevant state registers of the Russian Federation of vehicles, information about which is contained in the declaration.
The fulfillment of these conditions must be confirmed by the attachment to the declaration of statements on transactions on accounts (deposits) confirming the transfer of funds or financial assets to the accounts (deposits) of the declarant in banks of Russia or organizations of the financial market of Russia, issued and certified by such bank or organizations of the financial market, as well as documents confirming the re-registration of vehicles.
The capital amnesty implies exemption from criminal, tax, and administrative liability for certain illegal acts. In particular, within the framework of the capital amnesty, the declarant is exempt from criminal liability for evasion of customs duties, special, anti-dumping and (or) countervailing duties in large or especially large amounts, evasion of taxes and fees.