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Putin signs law on tax residency for sanctioned individuals

April 04, 9:05 UTC+3

The president has signed the law on the right of an individual who is subject to foreign sanctions not to be recognized as a tax resident of Russia

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MOSCOW, April 4. /TASS/. Russian President Vladimir Putin has signed the law on the right of an individual who is subject to foreign sanctions and who is a resident of other country not to be recognized as a tax resident of Russia.

The document earlier passed by Russia’s State Duma (lower house of parliament) and endorsed by the Federation Council (upper house of parliament) was posted on the official legal information website on Tuesday.

According to the document, if sanctions were imposed on an individual within a tax period, this person may not be recognized as a tax resident of Russia during this period regardless of the length of his stay in the country with the availability of such residency in a foreign country.

An amendment to this effect will be submitted to the Russian Tax Code.

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