Analytics and brochures
Pepeliaev Group advises that the Russian President has signed Federal Law No. 77-FZ , which considerably amends article 15.11 of the Russian Code of Administrative Offences regarding the liability for gross violations of accounting requirements, including requirements for financial statements. The Law extends the limitation period for holding a person liable for the above offences under administrative legislation.
Pepeliaev Group advises that, on 16 March 2016, the first agreements were signed between JSC Far East Development Corporation and residents of the free port of Vladivostok, which have already been included in the register of residents . Moreover, a draft law has been prepared extending the composition of potential residents to include companies that are already operating.
Pepeliaev Group advises that the Russian Supreme Court has applied a differentiated approach in a case concerning the demolition of an unauthorised construction. The court laid down new approaches, previously absent from court practice, to examining cases in the relevant category (Ruling No. 308-ES15-15458 of the Russian Supreme Court's Judicial Panel for Economic Disputes dated 10 March 2016 in case No. А32-22681/2014).
Pepeliaev Group advises that on 17 March 2016 the Russian Government signed two Resolutions that two new priority development areas be established in the Sakhalin Region.
Law firm Pepeliaev Group advises that new amendments have come into force to the tax rules regarding deoffshorisation and repatriation.
The new amendments answer certain questions regarding the procedure for applying the rules which were adopted earlier. However, some questions remain unanswered and new issues have arisen. It is expected that during the spring session the State Duma will adopt one more set of amendments (the third one). In the meanwhile, one year after the deoffshorisation rules have come into force, they still lack clarity and definition. This compels businesses to hold off adopting and performing specific decisions aimed at adapting to the new tax conditions.
Pepeliaev Group advises that on 16 February 2016 the State Duma passed a law which amends the Russian Commercial (Arbitration) Procedure Code (the “Code”) and unifies the procedural rules applied by general jurisdiction courts and state commercial (arbitration) courts.