Overview of tax events for March 2024

Regulatory developments

The State Duma has approved the plan for implementing the Russian President’s Address.

The laws passed are as follows:

• on cancelling the three-year tax benefit for investors;

• on increasing the damage in economic crimes (draft law No. 327269-8, initiated by deputies).

The State Duma has adopted in the first reading draft law No. 564179-8 on collecting VAT in Russia when goods from the EAEU are sold online.

The Russian Government:

• is preparing amendments to the scale of personal income tax and profit tax rates;

• is preparing a draft law with amendments to the Tax Code regarding the right of mining companies to apply a reduced coefficient to the mineral extraction tax for concentrates of any precious metals.

Practice

Starting from 15 March, Russia has been conducting an experiment of labelling certain types of construction materials, which will last until 1 December.

The experiment of labelling alcohol products imported to Russia has been extended until 31 May 2026.

The state authorities intend to liquidate schemes of tax evasion with respect to payments of VAT during imports of goods from the Eurasian Economic Union.

The Russian Federal Tax Service:

• is conducting an industry project “Public Catering”;

• has prepared an overview of positions of the Constitutional Court and Supreme Court with respect to taxes for Q4. 2023.

The service of the Federal Tax Service “Transparent Business” has posted information on how special regimes are applied.

The Confederation of Finnish Industry has proposed to create a free economic zone in regions bordering with Russia.