Russia Responds to the Trump Tax Reform

Russian President Vladimir Putin is also responding to the Trump Tax Reform. Putin has also taken a step to promote the repatriation of capital from abroad. He is now proposing that only a 13% tax on funds retrieved should be abolished. Additionally, he is proposing that there should once again be an amnesty for Russian companies that bring their cash home.

Russia introduced such immunity for past tax avoidance and foreign exchange offenses back in 2014 when the country faced massive capital outflows. That amnesty had been used very little proving to be ineffective. It expired in mid-2016.

Latest Posts

Market Talk – December 20, 2024

Merry Christmas and Happy New Year! Market Talk will be postponed until we embark on the new year. ASIA: The major Asian stock markets had a negative day today: • [...]
Read more

Newsom Declares State of Emergency

Gavin Newsom has declared a state of emergency over the bird flu. Of the 34 reported cases, 33 were working directly in farms. There is no grave danger to the [...]
Read more