Putin wants to reclaim foreign capital

World December 25, 2017 19:09

moscow - President Vladimir Putin wants to persuade Russian businessmen to repatriate their foreign-earned and stolen money. That should be done by scrapping the 13 percent profit tax that is now being levied and giving companies a general pardon when they bring their capital back, he said Monday.

The Kremlin did such a thing even in 2014 when the capital flight assumed enormous proportions, the relationship with Western countries deteriorated due to the Ukraine conflict and oil prices plummeted. That amnesty scheme ended in the summer of 2016.

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