On 2 June, the State Duma (the lower chamber of the Russian Parliament) held parliamentary hearings regarding draft Main Directions for Tax Policy until 2018. The draft, in particular, provides for corporate profit tax benefits for greenfield projects and an increased initial value of depreciated property for tax purposes. It also sets a moratorium on an increased tax burden in Russia until 2018.
The Russian Government has approved a list of VAT-exempt materials for scientific research which do not have Russian substitutes. The list includes 180 items (Resolution No. 469 dated 15 May 2015).
On 3 May, the Russian President signed Federal Law No. 113-FZ. This law establishes that a tax agent is obliged to provide quarterly estimates of personal income tax amounts which it has calculated and withheld, to tax authorities. If it fails to provide such estimates, a penalty is imposed on it and its bank accounts are blocked.
On 8 March, the Russian President signed the federal law “On amending the second part of the Russian Tax Code”. It clarifies the rules for accounting for income (expenses) from transactions with debt instruments.
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