Russia: Offshore Tax Amnesty Extended for Further Year

The government of the Russian Federation has extended the foreign assets tax amnesty and tax-free liquidations of controlled foreign companies (CFCs) until 1 March 2019.

Disclosures under the amnesty will still not attract any tax, criminal or administrative liability on the taxpayer, and the assets do not need to be repatriated to Russia, but some new conditions and guidance are imposed.