MOSCOW, February 19 (RAPSI) – Russian President Vladimir Putin has signed bills extending the timeline for capital amnesty in Russia until February 28, 2019, into law, according to the official website of legal information.

The bills have been drafted by a group of lawmakers in furtherance of Putin’s initiatives suggesting this policy should be continued in 2018. They were adopted by the State Duma on February 9. The upper house of parliament, the Federation Council, approved the documents on February 14.

According to the documents, during the second phase of the amnesty, set from January 1, 2018, till February 28, 2019, applicants would be able to declare their bank accounts and deposits in foreign banks by January 1, 2018. They would also be able to declare their accounts and deposits opened before that date but closed before filing an application. The latter may be filed with any tax office or the Central Department of the Federal Tax Service.

The timeline for the liquidation of foreign companies will be extended until March 1, 2019.