Analytics and brochures

The timeframe for individuals to submit reports concerning the movement of funds on foreign accounts for 2019 has been extended by six months Resolution No. 792 of the Russian Government dated 30 May 2020 has been published whereby the deadline for individuals to submit reports concerning the movement of funds on foreign accounts (deposits) has been moved from 1 June to 1 December 2020.

The Finance Ministry intends to continue fine-tuning the Tax Code's provisions on cross-border payments

Pepeliaev Group advises that the draft law proposing minor adjustments to parts one and two of the Tax Code has been presented for public hearings.

Taxpayers will be able to personally visit tax inspectorates starting from 15 June The Russian Federal Tax Service has advised that, starting from 15 June, tax inspectorates will be able to meet with taxpayers in person, but by appointment only.

Additions to the list of the most affected industries The list of the most affected industries has been extended to include media outlets and production of printed products, as well as supporting space activities.

The Russian Federal Tax Service has extended the period of the suspension of enforced collection measures for tax arrears The Russian Federal Tax Service has published Letter No. ED -20-8/71@ dated 26 May 2020 extending the period of the suspension of enforced collection measures for tax arrears and for the provisional remedies until 1 July 2020. 

Entities and individual entrepreneurs may submit reports concerning the movement of funds on foreign accounts for Q1 2020 within later timeframes which do not include the non-working period

The Russian Federal Tax Service (the “Federal Tax Service”) has published Letters No. VD-4-17/7012@ dated 24 April 2020 and No. VD-4-17/8044@ dated 15 May 2020, which contain clarifications of issues relating to currency control in the conditions of the measures taken to prevent the spread of the coronavirus infection, including the timeframes for entities and individual entrepreneurs to submit reports concerning the movement of funds on foreign accounts. 

The Ministry of Finance has explained the purpose of amendments being introduced into the DTTs with the Republic of Cyprus, the Republic of Malta and the Grand Duchy of Luxembourg

Pepeliaev Group advises that the Russian Ministry of Finance has issued explanations in which the regulatory body referred to the purpose of amendments being introduced into the Double Tax Treaties (“DTTs”) regarding the taxation of dividend and interest income.

Customs authorities have suspended audits of compliance with currency legislation The Russian Government’s Resolution No. 671 dated 13 May 2020 has been published, by which the measures for the temporary suspension of audits of compliance with currency legislation also cover audits performed by the customs authorities as currency control authorities.

The Central Bank has changed disclosure rules for issuers Pepeliaev Group advises that the Russian Central Bank (the “Central Bank”) has adopted a new version of the Regulations “On the disclosure of information by issuers of securities” to improve and simplify the disclosure procedure

A law on new measures supporting tenants has been passed by the Russian State Duma in the third reading Pepeliaev Group advises that on 22 May 2020 the State Duma passed in the third reading draft law No. 953580-7 (the “Draft Law”) which stipulates, among other things, the right of certain types of tenants to unilaterally withdraw from a lease for real estate without any penalties and to extend leases for public real estate.

List of medical items on which expenses are deductible for profit tax purposes

The Russian Government has approved the list of medical items for diagnosing (treating) the new coronavirus infection on which expenses are deductible for corporate profit tax purposes.

The government has approved the new rules concerning benefits for tenants from affected industries and socially-oriented not-for-profit organisations

The Russian Government has adopted an instruction on the introduction of additional rules for tenants of state real estate. 

DAC6: the reporting deadlines to be shifted

Pepeliaev Group advises that the deadlines for submitting reports under the EU directive DAC6 are planned to be shifted.

The procedure has been devised for conducting an experiment aimed at using work-related electronic documents Pepeliaev Group advises that the Ministry of Labour and Social Security has devised the draft order “On approving the regulation on the procedure for conducting an experiment aimed at using work-related electronic documents”

Landlords that are owners of retail real estate will be able to obtain a deferral for the payment of property taxes

On 16 May 2020, the Russian Government’s Resolution No. 699, was adopted which amends the previously established Rules for granting a deferral (instalment plan) for the payment of taxes, advance payments on taxes and insurance contributions.

The Russian Federal Tax Service has clarified the procedure to be followed by taxpayers claiming subsidies when they have tax arrears

According to Resolution No. 576 of the Russian Government dated 24 April 2020, one of the conditions that SMEs from the “most affected” sectors should meet to be entered into the register of subsidy recipients is that they should not have had tax arrears of over RUB 3,000 as at 1 March 2020. This amount is calculated taking into account all the existing arrears and overpayments (penalties, fines and interest are not taken into account). 

The draft law on tax support measures for business

On 19 May 2020 a draft law on amendments to tax legislation was submitted to the State Duma. This draft law is aimed at implementing a so-called ‘third set’ of support measures for business and the public in connection with the coronavirus infection.  

Moscow authorities have approved rules for grants to owners of commercial real estate in the capital Pepeliaev Group advises that, on 13 May 2020, Resolution No. 574-PP of the Moscow Government (the Resolution) was adopted which approves the procedure for grants from the budget of the city of Moscow to owners of commercial real estate that have decreased the rent rate for tenants in the conditions of the crisis because of the COVID-19 coronavirus.

The State Duma has adopted in the third reading a draft law on holding online meetings of the owners of premises in a block of flats

Pepeliaev Group advises that on 13 May 2020 the Russian State Duma adopted in the third reading Draft Law No. 487583-7 (the ‘Draft Law’), which amends the Russian Housing Code (the ‘Housing Code’) in terms of the procedure for holding general meetings of the owners of premises in a BOF in the form of an absentee voting using information systems.

The Central Bank has permitted electronic registration of an issue of securities