An amendment to the Land Law will shorten the time frame for the sale of seized assets of corrupt officials. At a round table in the Federation Council dedicated to increasing the efficiency of the sale of confiscated property, the Accounting Bureau proposed to speed up its transfer to the economic cycle by automatically removing arrests, obligations and other encumbrances when registering federal property rights. Now the procedure takes an average of about a year, restrictions remain on about half of the confiscated properties. Representatives of the Ministry of Justice confirmed that the issue is under review. According to the Federal Asset Management Agency, this year 650 seized objects were sold for 383.7 billion rubles, compared to about 100 objects for 88 billion rubles. for the whole of last year. The next stage of the reform is related to the elimination of procedural barriers: from excessive requirements for participants in electronic commerce to restrictions on the sale of assets to a single buyer. The implementation of the proposed measures will speed up the flow of funds into the budget and increase the attractiveness of confiscated property to buyers in good faith. Representatives of the financial sector point out that investors lack complete information about the condition of such objects. The most sensitive risk concerns tax claims. After purchasing assets, the new owner may face government lawsuits related to the actions of the previous owners. For example, loans to people abroad, which the tax authorities classify as withdrawal of funds. Additional difficulties arise due to the destruction or lack of documentation. The Federal Assets Management Agency notes that when items are moved, the previous owners often delete the accounting data, and the accounting department must be rebuilt from scratch.

An amendment to the Land Law will shorten the time frame for the sale of seized assets of corrupt officials. At a round table in the Federation Council dedicated to increasing the efficiency of the sale of confiscated property, the Accounting Bureau proposed to speed up its transfer to the economic cycle by automatically removing arrests, obligations and other encumbrances when registering federal property rights. Now the procedure takes an average of about a year, restrictions remain on about half of the confiscated properties. Representatives of the Ministry of Justice confirmed that the issue is under review. According to the Federal Asset Management Agency, this year 650 seized objects were sold for 383.7 billion rubles, compared to about 100 objects for 88 billion rubles. for the whole of last year. The next stage of the reform is related to the elimination of procedural barriers: from excessive requirements for participants in electronic commerce to restrictions on the sale of assets to a single buyer. The implementation of the proposed measures will speed up the flow of funds into the budget and increase the attractiveness of confiscated property to buyers in good faith. Representatives of the financial sector point out that investors lack complete information about the condition of such objects. The most sensitive risk concerns tax claims. After purchasing assets, the new owner may face government lawsuits related to the actions of the previous owners. For example, loans to people abroad, which the tax authorities classify as withdrawal of funds. Additional difficulties arise due to the destruction or lack of documentation. The Federal Assets Management Agency notes that when items are moved, the previous owners often delete the accounting data, and the accounting department must be rebuilt from scratch.