Analytics and brochures

In February 2009, the Moscow City State Commercial (‘Arbitration’) Court handed down a decision allowing russian company to recover debt from the Israeli-registered company (the “Defendant”) under a supply contract. The court also awarded interest of more than EUR 5 million on the amount due.

Pepeliaev Group remind you about the start of the filing period for 2012 returns. Individuals who generated taxable income in 2011 and have not paid personal income tax on it may start filing their tax returns now. The last day of the filing period is 30 April 2012. Under the general rule, individuals must pay the personal income tax, as stated in their returns, before 15 July 2012.

Pepeliaev Group hereby reminds all companies planning to employ foreign national employees in 2013 that a corresponding application must be submitted by 27 April 2012.

Pepeliaev Group advises that the Russian Supreme Arbitration Court (the “SAC”) has published on its web site Resolution No. 8654/11 dated 15 November 2011 in the case of OAO Coal Mine Severny Kuzbass touching upon the issues connected with the application of the Russian thin capitalisation rules. The resolution changes the existing case law in a significant manner with regard to what should take priority: non-discrimination provisions of international double tax treaties or Russian thin capitalisation rules.

Pepeliaev Group advises that 22 February 2011 saw the publication on the website of the Federal Service for Supervision over Telecommunications, Information Technology and Mass Media (“Roskomnadzor”) of its Order No. 048 dated 31 December 2010 On temporary rules for administrative procedures performed by the Federal Service for Supervision over Telecommunications, Information Technology and Mass Media to grant, renew, extend and cancel licences at the licensee’s request, to issue additional copies of licences, and to provide information contained in the licence register on specific licensees while rendering the state service of licensing radio and television broadcasting.

The third set of antimonopoly measures, which comes into force on 6 and 7 January, significantly amends antimonopoly legislation, affecting business across the board. The most important new developments include: antimonopoly law institutions and concepts being clarified, not least the criteria for monopolistic high prices and concerted actions; the concept of a cartel being introduced; and the manipulation of the electric power market being prohibited. The grounds for administrative and criminal liability to be imposed are also amended.