Putin exempts Russians who fell under sanctions from paying taxes

Russian President Vladimir Putin signed a law exempting Russians who fell under sanctions from reporting income and paying taxes in Russia in certain cases. The law is retroactive, and is effective as of January 1, 2014.

Earlier, an amendment to the Tax Code, prepared by a United Russia Deputy, Andrei Makarov, was adopted in the third reading by the State Duma of Russia. The law allows Russians who have business or property abroad and who have been sanctioned, to not be considered tax residents of Russia. On March 29th, the bill was approved by the Federation Council, the upper house of the Russian parliament.

The American list of sanctions includes 56 Russians, the European list includes 157 citizens of Russia and Ukraine. They have been placed under sanctions for their role in the annexation of the Crimea and the support of pro-Russian separatists in eastern Ukraine. Among them there are entrepreneurs Roman Rotenberg, Arkady Rotenberg, and Gennady Timchenko, who are considered to be close friends of President Putin.

  Russia, Sanctions, taxes, Rotenberg