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Overview of tax events for June 2021

09.07.2021
2 min read
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Regulatory developments

The Russian President has directed the head of the Russian Government to scrutinise the suggestions of the G7 countries for tax on global corporations to be increased.

The Federation Council has passed a law which scraps tax reporting in relation to real estate items of Russian legal entities that are subject to corporate property tax based on the cadastral value of such real estate. Such procedure will be implemented starting from 2023.

The State Duma:

  • has passed a law containing numerous amendments to the Russian Tax Code relating to the implementation of the main lines of tax policy (Draft Law No. 1170972-7);
  • has passed a law which obligates foreign companies with a daily audience of more than 500,000 to open a branch, a representative office or an authorised legal entity in Russia;
  • has approved amendments to the law on agreements for the protection and encouragement of capital investments (“APECI”) aimed at boosting the attractiveness of this tool to investors;
  • has proposed amendments to the Russian Tax Code which obligate companies to pay compensation of environmental damage out of their net profit.

The Russian Government:

  • has approved the draft law on extending benefits for SEZ residents in Kaliningrad Region;
  • has determined the amount of the new tax on digital companies, which will be 3% of the income that foreign IT companies receive from Russian citizens;
  • is preparing a global revision of its fiscal policy in relation to the metallurgy sector;
  • is considering the idea ofintroducing excise payments on soft drinks containing sugar.

The liability for polluting the environment will be shifted from the producers of goods to the manufacturers of packaging. The environmental fee to be paid by companies manufacturing the large majority of packaging will be increased.

The Ministry of Finance is evaluating an increase of profit tax to 30% for those who siphon off their profits abroad where the amount of dividend payments exceeds ‘reasonable figures’.


Case law

The Russian Federal Tax Service has simplified the registration and liquidation of companies.

Documents have been approved for the electronic liaising of business, state bodies and operators of electronic document exchange.

By the end of 2022, the Federal Tax Service will introduce a Unified Tax Payment for companies and individual entrepreneurs.

Russia has notified the Netherlands that the tax treaty between the two countries has been denounced.

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