MOSCOW, June 23. /TASS/. Russian President Vladimir Putin proposed setting a fixed amount of 5 mln rubles ($72,777) per year as tax on revenues from the activities of controlled foreign companies (CFC).
He emphasized that there are many entrepreneurs in Russia who are developing their business not only in Russia but also abroad, and they "should have the opportunity to conveniently, in a civilized manner pay taxes at home, in Russia."
"Now, Russian tax residents - owners of foreign assets pay tax on income from the activities of so-called controlled foreign companies using a rather complicated, cumbersome and, one might say, confusing mechanism. I propose to radically simplify it: provide the right to pay a fixed tax amount of 5 mln rubles per year without additional reporting," Putin said in a televised address on Tuesday.
"This way, we will give an incentive to the development of a modern, responsible business in the Russian jurisdiction," Putin emphasized. "I also would like to draw attention of the government - investment activity and new jobs should be supported in general," the Russian leader added.