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Finance Ministry against tax barriers for companies returning to Russia

"If they return they will need to acquire assets at the market price here," the head of the ministry’s Financial Policy Department specified

MOSCOW, September 5. /TASS/. Russia’s Finance Ministry does not consider it necessary to create barriers for companies that left the country and decided to return, in the form of additional taxes, Head of the ministry’s Financial Policy Department Ivan Chebeskov told reporters.

"They sold their business. If they return they will need to acquire assets at the market price here <…>. In terms of some additional tax here no, on the contrary, we only welcome investors that would like to come. I don’t think there is talk about any barriers for those who would like to return," he said.

Earlier, the Finance Ministry said that the price of sale of foreign companies when leaving Russia was not lowered artificially and was not set by the subcommittee of the governmental commission for control over foreign investors, adding that the assessment was made competitively.

Russian Finance Minister Anton Siluanov said in an interview with TASS earlier that each application by foreign businesses to leave Russia was considered individually, with the conditions for the departure of foreigners determined by the president, while certain issues resolved by the subcommittee convened 2-3 times per week. Moreover, there are base principles to consider deals on withdrawal of foreign business, including independent assessment of business, a discount of 50% from that assessment, a budget contribution from 10% to 15%, the minister noted.