The fate of non-residents

Why Alisher Usmanov does not want to pay taxes in Russia?
18.10.2016
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Russian billionaire, owner of "Metalloinvest" and "MegaFon" Alisher Usmanov, has officially confirmed that it is not a tax resident in Russia. This means that now, Alisher Usmanov is not required to disclose their offshore companies and pay tax on their profits. Interestingly, Alisher Usmanov, the first of the top Russian billionaire admitted in a tax exile and apparently had no reason to hide it.

I do not need the Russian coast

As stated in the holding Usmanov's USM, a businessman in the last year is not a tax resident in Russia. This is due to the fact that one of the richest Russians were forced to spend too much time abroad. Under Russian law, a citizen ceases to be resident if he spends a year in the home country is less than 183 days. It does not exempt it from paying tax on income earned in Russia. But he can not pay with the profits earned abroad.

The company Alisher Usmanov explained that abroad he had to spend a lot of time because of their sporting, charitable and philanthropicce. As it is known, is headed by businessman International Fencing Federation. And its offices in Lausanne and Monaco. In addition, Usmanov has never hidden that is actively involved in charity and philanthropy, helping the various funds, museums and so on. One of the most famous cases - when the businessman bought and brought Nobel medal scientist to do a lot to fight cancer (he was forced to sell the award).

Finally, another reason - health, noted in the holding. Rumors that Alisher Usmanov is suffering from some disease, went 4 years ago, when the businessman said that retires. He later confirmed that he had a "long period of illness." Whether employed retired or went on to manage their empire - is unknown. As darkness covered the remaining data if he has offshore companies.

If Homeland said it means necessary

At the end of 2014, the Russian Duma to take urgent Anti- offshore law. According to the document, the Russian citizens must report to the tax on stock they have the so-calledCFC (controlled foreign companies, and if easier - offshore company). The next stage - the payment of taxes on the profits of these companies. Contribute need to have at the end of this year, that is the moment of truth will come next year, when the tax campaign begins. Having offshore law does not prohibit. But for those who do not want problems with the tax authorities, in fact, had two real output. Or transfer all assets in Russia, or to become a tax resident of another country, which was required to spend abroad no less than six months.

According to media reports, some of the leaders of Russian business would prefer the second option. Thus, for example, entered the billionaire owner of Alfa Group Mikhail Fridman. Besides him, the resident became Gennady Timchenko, Vasily Anisimov, Dmitry Rybolovlev, Andrei Melnichenko and other well-known characters. However, there were those who preferred the first option. And among them - Alisher Usmanov. He moved to Russia from its major offshore assets, "Metalloinvest", "Megafon", as well as a share in social networks "VKontakte" and "Classmates".

We are generous, fun!

In this light, it is not very clear why Alisher Usmanov has lost the status of a tax resident of Russia? Yes, and did, so to speak, "tax kaminaut". However, the chain of events gives the right to the version. Businessman one of those who are called built-in the current system (in fact, other representatives of big business here and there). However, unlike colleagues, Alisher Usmanov has shown absolutely complete loyalty by handing out generous gifts. That only is the episode with the former national team coach Fabio Capello football, which the RAF owed 300 million rubles salary. Usmanov took the duty on itself.

Add to this the fact that he is almost the first of the big business transferred assets in Russia. And, besides, he had, as he himself said, there are no heirs. After the death of a businessman all his fortune will go to charity, that is likely to remain in Russia. Why not let this obliging man abroad? In general, a feeling that the tax emigration to Alisher Usmanov - a well-deserved retirement, for which he received the permission of the Russian authorities.

It is worth to mention one more thing. Usmanov personally owns one of the most influential Russian media - publishing "Kommersant" home. By law, ceased to be tax resident in Russia, he is equal in rights and duties to the foreigner. This means that, according to another law, it can not hold more than 20% of the Russian media. It is logical to assume that the businessman or transfer the "Kommersant" to another owner with the Russian residence permit, or sell it. Of course he could not know about it, changing residency. So either he is going to sell or put up with the idea that parting with the "Kommersant" - the inevitable cost.

I like you - I'll

Finally, we should pay attention to another publication. Recently, Reuters reported that Usmanov will have an impact on a new president of Uzbekistan. More specifically, the scope of its activity will be to coordinate the work of the Uzbek government. If so, the candidature of the ideal: Usmanov was born in Uzbekistan and is close to the ruling circles in the country. This is a very wation for the Russian field. The recently deceased Uzbek leader Islam Karimov was against entering the country in the Eurasian economic space. Perhaps the new government of the republic will be more accommodating, especially if this will make a powerful hand of a Russian businessman. True, the press service of Usmanov denied the information that the employer can influence the political life of Uzbekistan.

Still, it can be assumed that Alisher Usmanov has received an offer that is hard to refuse. Hardly ever will know, was there any bargaining between him and the Russian authorities. But hardly anyone in doubt that if someone wants to top, neither a businessman does not receive the status of a non-resident. Rather, I get, of course, but a thousand times think before to change their place of residence. There is no reason not to trust the information that Usmanov has translated all assets in Russia, as befits a prudent businessman and loyal. But there is no reason not to doubt that abroad he still has a lot left. In the end, the results of the investigation of an international consortium of journalists showed hthe businessman was one of those who actively use the services of the Panamanian company "Mossak Fonseca" providing cover for offshore entrepreneurs from around the world. And this is only one firm, the tip of the iceberg offshore ...

And, maybe, the small chest opens much easier. A source close to the businessman put it very bluntly: "sit where it's warm where your company will not drag." Well, "where warmer" - explains a lot.