Legal firm Pepeliaev Group advises that the Central Bank of Cyprus has issued an additional circular letter regarding shell companies, containing more favourable explanations as to when a company is classified as a shell company.
Despite the literal wording of article 381(25) of the Russian Tax Code, movable property that was acquired from a related party can be exempted from taxation in certain cases, according to the Russian Supreme Court.
Pepeliaev Group advises that Federal Law “On international companies” (the “Law”) came into full force on 3 August 2018. The Law establishes a regime for foreign companies allowing them to change their personal law and obtain the status of international companies.
Pepeliaev Group informs you that a time limit has been set for filing a motion with the Chief Justice or a Deputy Chief Justice of the Russian Supreme Court in the case of a refusal to refer a cassation appeal for consideration by the Judicial Chamber of the Russian Supreme Court. This time limit may not exceed two months, which is the statutory timeframe for filing a cassation appeal.