Putin and Prime Minister Dmitry Medvedev walk before a meeting with members of the government in Moscow. REUTERS
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
President Vladimir Putin is using the threat of additional U.S. sanctions to encourage wealthy Russians to repatriate some of their overseas assets, which exceed $1 trillion by one estimate.Unlike that plan, this one waives Russia's 13 percent tax on personal income, according to Dmitry Peskov, Putin's spokesman.Last week, after the U.S. added several prominent Russians to its sanctions list, Putin approved a plan first proposed by business leaders to issue special bonds designed to give the wealthy a way to hold their dollar assets out of the reach of the U.S. Treasury.The government hasn't given an estimate of the amount of wealth Russians hold abroad, but a study published in August by the Cambridge, Massachusetts-based National Bureau of Economic Research put the figure at 75 percent of national income, or about 60 trillion rubles ($1 trillion).
FOLLOW THIS ARTICLE