Tax Breaks To Stimulate Overseas Investment In Russian PE

Historically, Russia has not proven to be a popular destination for private equity (PE), but with the Kremlin agreeing to tax breaks for the industry that could all be about to change. At a time when Western countries such as the US and the UK are busy hiking taxes to punish PE firms - for what they see as their role in exacerbating the impact of the financial downturn - the Russian government meanwhile has agreed to do away with a 20% capital gains tax on the sale of shares in private companies.

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