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Valery Narezhny

  • 2 November 2018

    The Federal Tax Service (FTS) recently began publishing information concerning the various obligations of Russian taxpayers (ie, legal entities) and their financial reporting on its website. This practice is new in Russia, as such information was previously classified as tax secrets and, by virtue of the Tax Code, could not be disclosed. Following amendments to the legislation, the tax authorities will now actively publish this information in order to help genuine companies choose counterparties.

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  • 21 September 2018

    On 1 January 2019 Federal Law 231-FZ of 29 July 2018 will come into force, enabling the tax authorities to request client-related documents from auditors which constitute 'auditing secrets'. This law's introduction will mark the end of years of struggle by the Russian tax authorities to gain access to audit documents.

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  • 17 August 2018

    In April 2018 the Federal Tax Service (FTS) issued a letter providing an extensive explanation of the tax authorities' application of the beneficial owner of income (BOI) concept.(1) This concept was previously referred to only in the international tax treaties between Russia and other states, but has - in recent years - been actively implemented into Russian tax legislation. In this regard, the FTS's letter is of great interest, as it summarises the approach of both the courts and the tax authorities with regard to resolving BOI issues.

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  • 1 June 2018

    In April 2018 the Ministry of Finance issued an important clarification regarding the taxation of a foreign parent company's property rights to a trademark as a contribution to the charter capital of its Russian subsidiary.

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  • 6 April 2018

    Since the beginning of 2017, Russia has had a special procedure for imposing value added tax (VAT) on services provided in electronic form by foreign companies that have no branch or representative office in Russia. Such taxation features are informally known as the 'tax on Google', as they apply primarily to large internet companies.

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  • 5 April 2018

    Considerable attention is currently being paid to stimulating scientific developments in Russia, with extensive fiscal incentives offered to research & development (R&D) engineers. According to Russian tax legislation, the costs of creating new or improved products or services, which includes the costs of engineering, are included in R&D expenses.

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  • 2 February 2018

    At the end of 2017, a number of amendments to the Tax Code (Federal Law 340-FZ of November 27 2017) came into force which significantly increased the scope of information and documents that Russian divisions of some international companies must submit to the tax authorities. Through the amendments, Paragraph 13 of the Base Erosion and Profit Shifting Action Plan concerning the provision of country-b y-country reporting was implemented into national tax legislation.

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  • 1 December 2017

    The legislature is in the process of adopting a number of tax benefits intended to stimulate the development of innovative companies and marquee investments in Russia.

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  • 18 August 2017

    On June 7 2017 Russia, alongside 68 other states and jurisdictions, signed the Multilateral Convention to Implement Tax Treaty-Related Measures to Prevent Base Erosion and Profit Shifting (BEPS), which was developed to implement Action 15 of the BEPS Plan.
    The convention contains provisions that are binding for each signatory. It also contains numerous optional provisions, the application of which with respect to a particular double tax treaty (DTT) is at the discretion of each party to the DTT.

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  • 23 June 2017

    On March 23 2017 the Federal Tax Service issued a notification entitled On Identifying the Circumstances of an Unjustified Tax Benefit (ED-5-9/547@), which summarises the law enforcement practice associated with assessing the validity of a tax benefit in disputes relating to bad-faith contracting parties.

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  • 25 April 2017

    Companies may borrow necessary monetary funds in particular, in the form of credits and loans, commodities and commercial credits. In this regard, under certain conditions, the company may have a controlled indebtedness, for which the accounting of expenses for profit taxation purposes should be made according to the special rules regarding so-called 'thin capitalisation' stipulated in Article 269 of the Tax Code.

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  • 10 March 2017

    The procedure for transferring previous years' losses to future tax periods for the purpose of calculating corporate income tax has changed substantially for 2017. Under Article 283 of the Tax Code, taxpayers that incurred losses in previous years can reduce the present year's tax base for all or part of the amount of the losses.

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  • 22 December 2016

    During 2015 and 2016 the dispute between taxpayers and the tax authorities regarding the exclusion of multinational enterprise (MNE) groups' Russian subsidiaries from the requirement to pay corporate income tax on so-called 'intra-group expenses' came under scrutiny.

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  • 12 October 2016

    Price is an important element of all contracts, and IP transactions are no exception. Due to the unique character of most transferable IP assets, it is vital to define the contractual price clearly as, in case of disagreement, it is difficult to apply civil mechanisms to determine it.

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  • 22 July 2016

    On June 15 2016 the State Duma of the Federal Assembly adopted in its third reading the Federal Law on the Amendment of Part One and Part Two of the Tax Code of the Russian Federation.

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