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Blog "Русская эмиграция 🇷🇺"

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Great news for everyone who lives in other countries outside the Russian Federation.

Federal Law No. 424-ФЗ dated November 27, 2018, “On Amendments to Parts One and Two of the Tax Code of the Russian Federation and certain legislative acts of the Russian Federation on taxes and fees”, put an end to the unfair approach to taxation of tax non-residents. Everyone knows that tax non-residents, when selling real estate, are obliged to pay 30% of the income received . From January 1, 2019 this will be over .

The above law decides to exclude from Art. 217 clause 17.1 of the word “who are tax residents of the Russian Federation”, and also to exclude from clause 1 of article 217.1 the words "are tax residents of the Russian Federation."

What does this mean? This means that earlier foreign citizens living outside the Russian Federation were put in a deliberately disadvantageous position compared to Russians living in Russia. The inability to sell real estate without huge losses - paying a 30 percent tax - stopped many investors from investing money. Those Russians, who permanently or temporarily lived abroad, also puzzled over how to avoid paying the predatory tax. Many of my clients were forced to return to Russia in order to live the ill-fated 183 days in a calendar year in Russia, and sell the property, being a tax resident.

Apparently, it is unprofitable for Russia to lose potential investors: by hook and by crook, non-residents, in their overwhelming majority, fail to pay the predatory budget to the Russian treasury. But how many people stopped the Russian tax legislation! Now, exemption from tax payment will follow regardless of the place of residence of the owner, and will depend only on compliance with the requirement of the minimum limit period of ownership of the immovable property (in different cases, from three to five years). Changes to the tax code come into force on January 1, 2019. I think these changes should be regarded as an offer to invest in the Russian economy.

Karina Duval

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