Analytics and brochures

On Oct. 7, a protocol to the tax treaty between Russia and Cyprus was signed. The protocol, which significantly altered the contents of the treaty, is expected to become effective in 2011 or 2012, after its ratification by Russia and Cyprus and the exchange of ratification instruments.

An interview with Sergey Pepeliaev, Managing Partner of Pepeliaev Group, was published in in In-House Lawyer magazine, Issue No. 7.

It is obvious now that Russian pharmaceutical companies today and in the near future will not be able to satisfy the demand for medicine. For this reason, Russian authorities are creating wide opportunities for the development of local production established by or with the participation of foreign pharmaceutical companies.

Companies operating in various industries may need to lease parts of premises. It goes without saying that primarily these issues affect banks and companies that provide e-payment services through payment terminals.

Although Russia’s foreign trade turnover contracted by 40% in 2009 compared with 2008, the Russian customs authorities still managed to meet the target budgeted for the remittance of customs proceeds, which was reduced by the Russian Government only by 20%.

Rest assured – the new Law “On the Basics of State Regulation of Trade” does not directly affect the taxation of income and expenses of contracting parties resulting from the payment of remuneration (granting of discounts). The issue, however, does have its own specifics.