Amnesty under the Criminal Code only is not enough for the return of capital in Russia

11 December 2014

The Prime Minister of the Russian Federation (RF) Dmitry Medvedev stated in the interview on the results of the Government activity on December 10, 2014 that the capital amnesty and exemption from criminal liability would facilitate their return to their homeland. However, experts interviewed by RAPSI — the Russian Legal Information Agency, considered this measure necessary, but not sufficient to achieve the desired effect. The Senior Partner of the Law firm «BIEL» Philipp Ryabchenko was among those who expressed their opinion.

The Prime Minister of the RF Dmitry Medvedev said in the interview with popular Russian TV channels: «Here we have to think also about the elimination of the criminal liability, because otherwise no one will just repatriate capitals. It is obvious that in this case it is necessary to make a decision that a person who officially brings monetary funds to the territory of the Russian Federation, or simply declares, by such person t the funds remain in a foreign bank, shall not be subject to criminal liability».

The Senior Partner of the Law firm «BIEL» Philipp Ryabchenko noticed that for the return of the capital derived the guarantee of the State is needed for the owners of the monetary funds to be exempted from criminal liability. Otherwise, he said, «none will do it.»

«Citizens should have incentives and guarantees. The lack of tax can be considered as a stimulus and the absence of liability as a guarantee. But I do point out that the state should provide guarantees of „inviolability“, only then people will start to return the derived capitals », - Ryabchenko said.