Interfax: ‘De-offshoring’ Russian economy will yield ‘tens of billions’ in additional revenue – Siluanov

MOSCOW. Dec 12 (Interfax) – Initiatives to “de-offshore” the Russian economy, as voiced in President Vladimir Putin’s annual address to the Federal Assembly on Thursday, will make it possible to secure additional budget revenue totaling “tens of billions of rubles,” Finance Minister Anton Siluanov said.

“I think it will be tens of billions of rubles,” Siluanov told journalists on Thursday.

The Russian economy misses out on a large amount of resources because offshore companies receive dividends and interest that are not subject to Russian taxation, he said.

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