The special declaration guarantees exemption from liability for tax offenses, as well as criminal and administrative liability.

The amnesty has become particularly relevant in light of the latest amendments to the Russian Federation’s currency legislation (dated 02.12.2019), under which significant restrictions were introduced on crediting funds to accounts in banks in jurisdictions that do not exchange financial information with Russia automatically (for example, the United States, the United Kingdom, Turkey, Lithuania, Ukraine and Montenegro).

In particular, since December 2, 2019, the following may not be credited to accounts in these countries:

• Foreign currency loans and borrowings,

• Coupon income,

• Dividends,

• Income from the sale of securities,

• Payments upon bond redemption, etc.
  
  

Conducting the above transactions may result in fines ranging from 75% to 100% of the transaction amount, so those who did not manage to transfer assets to “exchange” jurisdictions before 02.12.2019 still have the opportunity to take advantage of the amnesty and avoid fines.

Our specialists are ready to advise on the use of the amnesty in each specific case and, if necessary, prepare and submit the declaration as quickly as possible.