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Pepeliaev Group advises that the Ministry of Economic Development has suggested that companies should be permitted to conduct general meetings of shareholders remotely, using information and communications technologies.
The Russian President has signed the following laws: easing sanctions for breaching foreign currency legislation; on implementing a tax manoeuvre in IT industry: starting from 2021, corporate profit tax will be reduced from 20% to 3%, while the rate of insurance contributions will be cut from 14% to 7.6%; on establishing a preferential regime in the Arctic for companies that intend to implement new projects there.
The Russian Government has included in the submitted Recovery Plan for the Russian Economy measures to make currency legislation more liberal. In particular, it is planned to give up total control over foreign trade transactions and not to impose fines for the non-repatriation of proceeds in foreign currency next year.