Results of the meeting with business in November 2023

After a meeting with business representatives on November 15, the Russian President signed a list of instructions for the Government to consider and prepare the necessary amendments to laws.

The main instructions from the list are:

Tax and corporate legislation
  • Differentiated profit tax rate depending on the investment activity of companies, taking into account the existing benefits and preferential regimes;
  • Abandonment of temporary measures of fiscal burden, such as export customs duties;
  • Extension of the right to state support for projects involving foreign legal entities (applies to offshore legal entities) for the duration of such projects;
  • Restricted disclosure of information on companies established on the basis of foreign holdings - information on beneficiaries and indirect owners of shares will be concealed;
  • Allowing non-residents – indirect shareholders of economically significant organizations and companies established on the basis of foreign holdings – to take direct ownership of their shares, even if this violates certain corporate procedures. Such a right has already been given to Russian businessmen who own assets in Russia through foreign intermediaries. Now they can take back their shareholder rights through the court and de jure exclude an intermediate company in an "unfriendly" country from managing the company;
  • Mechanism for the creation of international funds for the purpose of transferring assets to Russian jurisdiction by way of redomiciliation.

Criminal legislation
  • The procedure for determining the amount of bail to be used as a preventive measure in criminal cases. The amount of bail will depend on the amount of damage from the crime;
  • Allowing entrepreneurs under house arrest to transfer authority to run a company without being present in person through the government's web portal "Gosuslugi”.