It's OFAC office issued compliance guidance to the industry regarding the exit tax in the form of FAQs, or frequently asked questions, on Feb. 24, 2023, while negotiations on KFC's exit deal were still ongoing.
The deal included all its Russian KFC restaurants, operating system and the trademark for the Rostic's brand.
Once the buyers were approved, taking this new requirement into account, another one appeared - the budget contribution termed an "exit tax" by Washington - Levin said.
"The closure was delayed again, the correct procedure on paying the exit tax was agreed," Levin said.
Former KFC restaurants began opening in April as Rostic's, reviving a brand born soon after the collapse of the Soviet Union.
Persons:
Maxim, Sergei Levin, Levin, McDonald's, It's, Konstantin Kotov, Andrey Oskolkov, Elena Fabrichnaya, Alexander Marrow, Matt Scuffham, Timothy Gardner
Organizations:
Brands Inc, KFC, REUTERS, U.S . Office, Foreign Assets Control, Brands, Treasury, Smart Service, Russian KFC, Washington, Soviet Union, Rostic's, Thomson
Locations:
Russia, Moscow, Ukraine MOSCOW, U.S, Unirest, KFC's U.S, Ukraine, Russian, Soviet