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Overview of tax events for May 2021

01.06.2021
2 min read
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Regulatory developments

The Russian President has signed a law to denounce a double tax treaty with the Netherlands.
For information:
The Russian Ministry of Finance is planning to amend relevant double tax treaties with Singapore, Hong Kong and Switzerland.

A draft law has passed its second reading at the State Duma which provides for lower 6% insurance contributions to mandatory pension insurance for IT companies, starting from 2021 and for an indefinite period of time.

A group of deputies from the lower chamber and senators from the upper chamber of the Russian Parliament have presented a draft law to the lower chamber which introduces an obligation for the owners of foreign information resources with a daily audience of over 500,000 Russian users to establish branches, representative offices or Russian legal entities.

The Russian Ministry of Finance has proposed to clarify the taxation of income of foreign businesses in Russia, namely: to state in article 309 of the Russian Tax Code that borrowers that may be obligated to pay Russian withholding tax include individual entrepreneurs and permanent establishments of foreign entities whose debts were accrued in connection with their operations in Russia.


Practice

The Russian Federal Customs Service is to introduce customs monitoring and auditing procedures thereby implementing the Service’s strategy for 2030.

The Russian Federal Antimonopoly Service will be granted access to the state system for monitoring transactions with goods that are subject to mandatory labelling.

In case of Firma Mary LLC, the Russian Supreme Court’s Judicial Board for Economic Disputes has refused tax reconstruction to the taxpayer. The reason behind the refusal is that company “Mary” did not disclose necessary information and evidence.

Further to an appeal of N.N. Koretskaya, an explanation was provided in the Russian Constitutional Court’s Resolution No. 17-P dated 12 May 2021 of article 15.6(1) of the Russian Code of Administrative Offences regarding liability being imposed for the late submission of tax reports where an arbitral award has been issued in favour of the company.

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