Last night, international law firm Stephenson Harwood LLP hosted a roundtable event focusing on how Russia is introducing fundamental changes to its tax legislation by adopting new rules on controlled foreign companies (CFCs). The new rules are aimed at bringing capital back to Russia by imposing reporting requirements and tax liabilities on Russian residents who have established or who control or influence offshore companies, trusts and other holding vehicles.
The speakers at the event were James Quarmby, head of private wealth at Stephenson Harwood; Rustem Ahmetshin, senior partner and Tatiana Pavlyukova, senior associate, at Pepeliaev Group, a leading Russian law firm. They discussed the implications of the Russian CFC rules and discussed future tax planning in light of these new rules.
