Russian Finance Minister Confirms Hike in ‘Exit Tax,’ Sales Discount for Foreign Companies

Foreign companies seeking to leave Russia will be forced to pay a heftier “exit tax” and “voluntary contribution” to the state treasury, Finance Minister Anton Siluanov said Thursday, confirming earlier reporting of the planned increase.
“The discount for foreigners will increase from 50% to 60%,” Siluanov, who heads a government investment commission that approves foreign asset sales, told reporters.
One-time contributions to the Russian treasury will go up “immediately from 15% to 25%, plus 5% within a year and 5% the following year, totaling 35%,” Siluanov added.
He did not comment on reports from last week that President Vladimir Putin would for the first time personally approve deals worth more than 50 billion rubles ($520.3 million).
Hundreds of mostly Western companies either fully exited or scaled back operations in Russia following its full-scale invasion of Ukraine in February 2022.
Moscow later that year introduced steep mandatory discounts and charged an exit fee for foreign companies. Those figures have been gradually raised as Western firms remaining in Russia face criticism that their exits would help fund Russia’s war economy.

A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia’s Prosecutor General’s Office has designated The Moscow Times as an “undesirable” organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a “foreign agent.”
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work “discredits the decisions of the Russian leadership.” We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It’s quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you’re defending open, independent journalism in the face of repression. Thank you for standing with us.