Analytics and brochures
Amendments to the Russian Tax Code have been introduced by Federal Law No. 325-FZ dated 29 September 2019 “On amending Part I and Part II of the Tax Code of the Russian Federation”, including to article 73 of the Code. The provision has been supplemented with clause 2.1 concerning the creation of a pledge with respect to the obligations to the state budget by virtue of a law. Please find below the principal amendments and consequences of the new provisions being implemented as applied to the interests of a taxpayer company and its creditors if the company goes bankrupt.
The Russian Ministry of Finance is proposing to change the use of tax benefits in cross-border transactions in the draft of ‘Principle lines of budget, tax, and customs and tariffs policy for 2020 - 2022’.
Letter No. ED-4-13/15696@ “On holding companies’ beneficial ownership of income from sources in the Russian Federation” dated 8 August 2019 was published on the official website of the Russian Federal Tax Service on 13 August 2019. This letter evidences quite a serious change of the Service’s approach to the problem, which for many years has been the subject matter of tax disputes and professional discussions.
The Russian Ministry of Finance is planning to include grapes used for the production of wine in the list of excisable products in 2020.
Pepeliaev Group advises that laws have been passed which increase the period for employees to notify employers about receiving salary through another bank and which specify administrative liability for impeding employees’ rights when the latter choose a credit institution for their salary to be transferred to.
The Head of the Russian Ministry of Industry and Trade has announced that the tax free system can be extended to cover all Russian regions by the end of 2019.