The bill on the reduction of the limitation period for certain economic crimes and on the termination of a criminal case in case of payment of fines and arrears for tax evasion was approved by the State Duma of the Russian Federation in second and third reading on March 14 at a meeting.
The law, developed by the government, is designed to fulfill the order of the President of the Russian Federation to reduce the negative consequences for the country’s economy. It should liberalize criminal liability for offenses related to tax evasion and other mandatory payments.
According to the law, in the articles “Tax evasion”, “Breach of the duties of a fiscal agent”, “Hiding of funds or property of an organization or individual entrepreneur” and “Evasion of payment of insurance premiums”, the maximum terms of punishment in the form of imprisonment will be reduced by 1–2 of the year. This will lead to “reduction of the statute of limitations for criminal liability”.
It is also proposed to reduce the maximum prison sentence for a series of tax evasion crimes.
Among the amendments is a provision that a criminal case should not be initiated for tax evasion, and an initiated criminal case should be terminated if “full payment of arrears, sanctions and fines”.
Source: Rossa Primavera
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