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Liability Of The Border

Foreign real estate buyers try to hide their assets

Полученная за границей прибыль

Commissioners are increasingly looking for the foreign assets of the Russians, the largest of which is real estate. On 1 July, the deadline for citizens to voluntarily declare property, securities controlled by foreign companies, bank accounts and property controlled through nominal owners expires. Information on who had chosen to seize the opportunity was kept secret, but experts noted that the proposal was unlikely to receive a broad response.

" The Russian Federation ' s official website states that " the information contained in the special declaration, as well as the fact that a detailed declaration has been filed, cannot be a basis for a security check and for a visiting check, as well as a tax secret and cannot be used as evidence. The disclosure of the information referred to in the special declaration is prohibited by law (Criminal Code, art. 183). " Therefore, there is no actual number of declarations filed. In our experience, it can be said that only about 10 per cent of Rossians with foreign assets in the form of foreign real estate or accounts have declared property have noticed a member of the Board of Directors W1 Evans Jan Yanovsky.

In 2017, a system of mutual exchange of information on foreign accounts, assets and assets of foreign tax residents into tax administrations is in operation for all countries. The Russian Federation will move to this system in 2018 and will be able to receive information from offshore zones electronically.

“The world ' s tax authorities have virtually no notion of “banking secrecy”, and the Russian Federation ' s FNL, in this regard, has observed that Yanovsky.

However, while it was becoming increasingly difficult to hide assets, buyers had an additional incentive to conceal information in tax declarations because they were getting more together.

Recently, FNS and the Ministry of Finance explained that according to our legislation, the borrower should pay the income tax against the difference between interest rates. The tax base in Russia is defined as the difference between the credit rate of 9 per cent of the annual and the rate indicated in the loan contract. Outside, the credit rate averages 2.54 per cent, depending on the country and the terms of credit. Residents should report this " income " on their own in a declaration and pay a tax to the FNL.

" The tax is actually very old and has been aimed at combating the " alternative " means of payment and other rewards " , reminded by the Director of Financial Services of Tranio Kirill Schmidt. However, in the case of mortgages abroad, such payments were virtually non-existent.






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