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Additional Tax to Be Levied on Foreign Companies Leaving Russia

RUSSIA
  • Foreign companies preparing to pull out of the country will face a new levy on top of being demanded they sell at a 50% discount and receive government permission to leave, Bloomberg report. A windfall tax being rolled out in Russia will also apply to those lining up an exit deal, according to people familiar with the plans. There will be no exemption because the budget needs the money, the people said.
  • Russia’s Ambassador to China met with the Secretary General of the Shanghai Cooperation Organization (SCO) yesterday to discuss prospects for building mutually beneficial international ties, the Russian embassy said according to Tass. "The sides exchanged view on current issues of the SCO’s activities, including in the context of improving its work," it wrote on its Telegram channel. "Special attention was focus on prospects for building the SCO’s mutually beneficial international ties."
  • The Bank of Russia will report inflation expectations in its monthly economic survey for April. President Putin will hold a videoconference with his council for the development of local self-governments.
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