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Putin promises to curb loose interpretation of 'capital amnesty' law

17:12 19/03/2015

MOSCOW, March 19 (RAPSI) - President Vladimir Putin confirms that if the Russian government proceeds with the amnesty program for returning offshore capital, a random interpretation of the law, including by law enforcement agencies, will be unacceptable, RIA Novosti reported on Thursday.

“I would like to assure you that we will do all we can to make sure nobody, including law enforcement, takes advantage of interpreting the law the way they want,” Putin said at a conference of the Russian Union of Industrialists and Entrepreneurs.

The President stressed that “nobody will be able to just fish for something that is not in the law.”

He also announced that the procedure must carry as small an economic burden as possible.

Putin suggested amnesty for returning capital last December. The Finance Ministry’s bill proposes that candidates for amnesty either disclose the source of their income and its value, and provide data on tax code violating transactions or declare all assets and the structure of ownership. They will also have to pay a declaration fee of 1% of their assets.

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Putin promises to curb loose interpretation of 'capital amnesty' law

17:12 19/03/2015 President Vladimir Putin confirms that if the Russian government proceeds with the amnesty program for returning offshore capital, a random interpretation of the law, including by law enforcement agencies, will be unacceptable.
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