Russia Sets Terms for Capital Amnesty to ‘Correct Past Mistakes’
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Russia laid out the terms of a draft law to offer amnesty on repatriating capital, promising new incentives and legal protections to aid an economy starved of investment by sanctions over Ukraine.
The bill won’t require the return of assets to Russian territory, demanding only their registration in a “transparent” jurisdiction that isn’t blacklisted by the Financial Action Task Force, Prime Minister Dmitry Medvedev said at a government meeting in Moscow on Thursday. Under the proposed legislation, the declared assets won’t be subject to a one-time tax and won’t be used for criminal investigations, Finance Minister Anton Siluanov said at the meeting.