Business, ministry agree to ease conditions for tax residency

VERONA, Italy, Oct 25 (PRIME) -- The Russian Union of Industrialists and Entrepreneurs and the Finance Ministry have agreed to ease conditions for foreigners that want to become tax residents of the country, the union’s President Alexander Shokhin told PRIME on Friday on the sidelines of the Eurasian Economic Forum.

“We agreed with the Finance Ministry and with Siluanov personally on the residency issue,” Shokhin said.

“We think that the ministry’s idea should be interpreted in the way that it provides additional possibilities to those who want to enter the Russian tax residency, that it doesn’t force them to work for 183 days under the current regime, and so on.

“We think that there should be easy regimes for those who want to enter the Russian tax residency. We have to spell it out technically. It is obvious that this is not about a large amount of taxpayers, but we should give this opportunity to the people who want it.”

Earlier in October, the ministry suggested measures to stimulate investment in Russia, including reduction of a term for staying in the country necessary to become a tax resident to 90 days from 183 days, and reduction of the personal income tax for non-residents to 13% from 30%. Siluanov said later that the decision would be made only after discussions with business.

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