Overview of tax events for January 2016

Download PDF The Russian President has signed two acts to establish a unified administrator of public payments. The Russian Federal Tax Service (FTS) will be vested with: (1) the powers of social funds responsible for collecting insurance contributions; and (2) the fiscal obligations of the Russian Federal Customs Service (FCS) and of the Russian Federal Service for Alcohol Market Regulation. The latter two agencies will be preserved but will be removed from being controlled by the Russian Government to be under the jurisdiction of the Russian Finance Ministry.
The next step after the FTS and the FCS unite will be to toughen control over collecting taxes and customs payments. In the first quarter 2016, the Finance Ministry will draft the proposals for how VAT and customs duty payment procedure may be facilitated for all parties involved in foreign trade.