Fri Sep 20 07:43:08 UTC 2024: ## Russia Considers Quadrupling ‘Exit Tax’ for Foreign Companies Leaving the Country

**MOSCOW** – Russia is considering a significant increase in the “exit tax” levied on foreign companies leaving the country, potentially raising it to 40% from the current 15%, according to the RBC daily.

The move comes as Russia intensifies its efforts to control the departure of foreign businesses following Western sanctions imposed over the invasion of Ukraine. The government has been demanding steep discounts and claiming a portion of the sale price, effectively imposing an “exit tax” as described by Washington.

Since the imposition of sanctions, the Russian government has collected almost 140 billion rubles ($1.51 billion) from foreign companies exiting the country, already surpassing last year’s total.

Sources close to the matter suggest that the government commission overseeing foreign asset sales is now considering a substantial increase in the contribution percentage. This comes amid concerns that valuations used in some exit deals have been artificially low, limiting government revenue.

While the Finance Ministry confirmed ongoing discussions regarding the effectiveness of the exit process, they emphasized that no final decisions have been made regarding the proposed increase in the “exit tax.”

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