Cashing Out of Russia Will Come With New Tax on Foreign Business
- Foreign firms exiting Russia won’t be exempt from windfall tax
- Widening budget deficit amid war dictates need for more money
This article is for subscribers only.
Russia has another surprise for the foreign companies preparing to pull out of the country with a plan for a new levy on top of demanding they sell at a 50% discount and get government permission to leave.
A windfall tax being rolled out in Russia will also apply to those lining up an exit deal, according to people familiar with the plans. It could alternatively factor into the price negotiated as part of the divestment, they said.