Baku. Musa Ahmadov - APA-Economics. Russian President Vladimir Putin signed on Tuesday a new tax law intended to return Russian capital and assets from foreign tax shelters, ITAR-TASS reported.
The law introduces amendments to the country’s tax code that will oblige Russian owners of companies registered in offshore tax havens to pay taxes in Russia.
The document obliges Russian tax residents to declare undistributed profits of controlled foreign companies.
The amendments will come into force from January 1, 2015.