7 October 2010 saw the signing of a Protocol on Amendments to the 1998 Double Taxation Treaty between the Russian Federation and the Republic of Cyprus. The Treaty was significantly amended by the Protocol. Many of the Protocol’s provisions clearly aim to combat aggressive tax planning. At the same time, a number of the amendments make Cyprus a more attractive jurisdiction for Russian companies investing abroad.
On 28 September, Federal Law No. 244-FZ “On the Skolkovo innovation centre” was adopted, together with Federal Law No. 243-FZ of the same date “On amending specific legislative acts of the Russian Federation in connection with the adoption of the Federal Law ‘On the Skolkovo innovation centre’."
Pepeliaev Group advises that the Russian Ministry of Finance has published on its official website a draft law proposing to introduce, from 2011, a series of amendments into the VAT calculation regime, concerning settlement differences, the recovery of tax when property is lost, discounting and other issues affecting the position of companies.
Pepeliaev Group hereby informs on changes in the conditions of employment of foreign citizens: the list of positions not subject to the employment quotas has been extended; starting from 1 January 2011 the inviting party is no longer required to pay a filing fee to register foreign citizens for migration purposes.
Pepeliaev Group advises that on 29 October 2010 the Federal Law “On Amending the Federal Law ‘On Communications’” comes into force. This Law amends the legal regulation of transmission of publicly accessible mandatory TV and radio channels.
