Amendments to the Administrative Code by «capital amnesty»

In our publication as of 27.05.2019 «Capital amnesty has been extended» it was informed that the third stage of «capital amnesty» was carried out.

Started from June 1, 2019 and until February 29, 2020 the citizens of Russia can declare foreign assets and accounts, get tax exemption on personal income and that one gained from controlled foreign companies, under the condition of legalization as tax residents of Russia. Relief from criminal liability is guaranteed by the amendments to the article 761 of the Criminal Code of the RF.

Addition to the note to the article 14.1 of the Administrative Offences Code of the RF (AOC) was made by the Federal Law as of July 18, 2019 №178-FL. According to the Law, persons that are applicants or those the information about can be found in special declarations filed on the third stage of «capital amnesty» are discharged from administrative liability.

It concerns declaration of actions or inactions related to:

• property;
• participation in controlled foreign organizations;
• conducting transactions with currency;
• crediting of monetary funds to accounts or investments.

During first and second phases of «capital amnesty» almost 19 thousand declarations were filed.