Russian pres signs law releasing sanctioned tycoons from tax

MOSCOW, Apr 4 (PRIME) -- President Vladimir Putin has signed a law allowing people blacklisted in a foreign state to apply for release from the Russian tax residency, according to documents published on the Web site for legal acts on Tuesday.

The list of sanctions letting individuals apply for personal income tax non-payment will be clarified later by the government.

The law is retroactive, with the effect starting from January 1, 2014.

An application for release from the Russian tax residency must be accompanied with documents proving tax residency with a foreign state.

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