Shareholders and business: how to withdraw lightе
Until now, the shareholders, who withdrew money from a business, faced a number of tax issues and even risks. Potential problems arising out of withdrawal money from the business significantly hampered the investment process. The situation has changed dramatically. The year 2018 (November 18) saw the adoption of Federal Law No. 424-FZ that introduced important amendments to the Tax Code of the Russian Federation (hereinafter the «Tax Code of the Russian Federation»). Lawmakers clarified the tax consequences of liquidation, withdrawal of participants, reduction of capital and return of contributions to the assets of the Russian companies. We will address this issues in more detail below.