“From 15% to 25% immediately, plus 5% one year and 5% the next, in total 35%. The discount for foreigners increases from 50% to 60%,” said the head of the Ministry of Finance in the State. Duma, where amendments to the Budget Code were considered.
According to President Vladimir Putin, Russia behaves much more civilized towards foreign companies leaving the country, compared to the hostile attitude of states towards Russian businessmen. Previously, the Head of State recalled that in the 90s the Russian market was in the hands of foreign corporations, with which national producers could not compete. Putin commented on the departure of foreign companies after 2022 with the proverb “if there was no happiness, but misfortune would help.” Foreign companies are forced to abandon entire factories and other infrastructure with trained employees “for almost nothing, or just like that,” the president explained.
“We are not kicking them out nor are we going to kick them out, they leave on their own. Well, we are not going to reward them with any excess capital for their exit from our economy, from private companies and from the State. Owned companies have become so strong that they can easily occupy these niches. “It seems that no one expected such agility from us. Therefore, the state of the labor market is better than ever and therefore the growth of the economy, the growth of the industry. production,” he emphasized.
The requirement for a voluntary contribution to the budget when a foreign company leaves Russia was established at the end of 2022, and then its amount was 10% of the transaction amount. The new rules will further increase entry costs for a foreign seller, Petr Shcherbachenko, associate professor at the Financial University of the Government of the Russian Federation, told Rossiyskaya Gazeta.
“Those foreign companies that are under strong pressure abroad to leave Russia at any price will be forced to be content with the money they receive minus the mandatory discount and contribution to the budget. For the rest, the tightening of the rules will make them think. “In any case, as the president said, Russia must and will protect its interests. If market niches remain vacant for our entrepreneurs, they must be filled,” he described the situation.
