Overview of tax events for August 2021

Regulatory developments

The Russian Ministry for the Development of the Far East and the Arctic has prepared a taxation system for residents of the free port of Vladivostok (a unified tax).

The Russian Prime Minister has instructed that before 1 September 2021, agreed proposals should be prepared to establish a preferential regime on the Kuril Islands.

The Russian Government is analysing options for adapting Russian legislation to new supranational rules for the taxation of international companies, which the OECD previously put forward (if Russia decides to apply them).

Practice

From 2022 the Russian Federal Tax Service will launch the “Tax Potential” set of analytical materials, which is primarily intended for forecasting the income of the public purse in Russia's constituent entities.

The Russian Federal Tax Service is planning to enable legal entities and individual entrepreneurs to transfer taxes, levies and insurance contributions as a single payment.

The Russian Federal Tax Service’s website provides addresses where video-conferences with the tax authorities are held.

“One can hardly conceive of robust competition and a favourable investment climate in a country if no trust is placed in the national jurisdiction’, Russia’s General Prosecutor Igor Krasnov pointed out when summarising the work that has been done in the first 6 months of 2021 to protect entrepreneurs’ rights.