CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Russia To Show No Mercy To Tax Evaders

Russia To Show No Mercy To Tax Evaders

by Tatiana Smolenska, Tax-News.com, Moscow

25 November 2003


The Russian government has sought to tighten the screws on Russia’s reluctant taxpayers following Yukos chief Mikhail Khodorkovsky’s arrest and imprisonment for alleged tax evasion, by closing a loophole which allows non-payers to escape punishment if they agree to settle their debts.

Previously, the tax authorities were happy to invoke the ‘active repentence’ clause of the legal code in order to collect extra revenues from indebted taxpayers, and also avoid the costly process of initiating criminal proceedings and building a case against the accused.

However, amendments passed by the lower house of the Russian parliament, the State Duma, last Friday, will impose severe fines and a possible prison sentence of six years (reduced from seven) on the managers of firms which have evaded tax payments of more than $75,000 over three years.

This is the latest move in the campaign by the Putin administration to assert its authority over the country’s wealthy taxpayers, and could well have a bearing on the outcome of the Khodorkovsky case.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »