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Siluanov: Foreign business should be sold for less than half the cost
As Kommersant writes, the minimum discount on the sale of assets will increase from 50% to 60%, and voluntary contributions to the budget will increase from 15% to 35% of the market value of assets.
The Finance Minister announced on October 17: "The rate will be raised immediately from 15% to 25%, with an additional 5% for one year and 5% the following year, for a total of 35%." In the State Duma sideline (quoted by TASS)
Currently, unfriendly countries can leave the Russian market if they sell their assets at a discount of at least 50% and contribute 15% of the market value of their assets to the Russian budget.
Earlier it was reported that the Ministry of Finance sent a letter to the federal administration, in which it announced the tightening of conditions for the exclusion of foreign companies from the Russian market. In addition to the above conditions, it is reported that transactions for the sale of assets worth more than 50 billion rubles will be carried out only with the consent of the President of the Russian Federation. They rushed to the exit. Foreign companies left Russia with the hope of returning.
In late September, it was reported that Russia wanted to increase its contribution to the budget through a deal that would see foreign companies leave the country. Among the proposals is to increase the contribution from the current 15% to 40% of the asset’s market value. Another source on the subcommittee said they were expecting a “significant increase,” rather than the 40% level.
Moreover, the exit from the Russian market itself was quite problematic. Unilever, one of the most famous British companies in Russia, was only recently able to regulate the sale of its business in the Russian Federation. The company's assets were estimated at 35-40 billion rubles. The buyer was Alexey Sagal's Arnest Group, a Russian manufacturer of perfumes, cosmetics and household chemicals.