Advised on offset sequence between parent company and Russian subsidiary
The team of our currency regulation practice advised a major IT company on issues of the sequence of offsets between the parent company and the Russian subsidiary.
The project was complex because a part of the obligations could fall under the permission-based procedure for performing currency transactions approved by the Russian President's Decrees.
Our lawyers carried out a comprehensive legal analysis of the options for the client’s intended actions from the perspective of the risks of violating currency legislation (including the Russian President's counter-sanctions Decrees which contain currency restrictions) as well as tax risks. In addition, we prepared an application to the Russian Ministry of Economic Development and the client was provided with recommendations based on the analysis that we had conducted.
Support from our lawyers helped prevent potential mistakes of the client caused by a non-obvious interpretation of the legal rules. Therefore, the company avoided potentially large fines for violating currency and tax legislation.
The project was complex because a part of the obligations could fall under the permission-based procedure for performing currency transactions approved by the Russian President's Decrees.
Our lawyers carried out a comprehensive legal analysis of the options for the client’s intended actions from the perspective of the risks of violating currency legislation (including the Russian President's counter-sanctions Decrees which contain currency restrictions) as well as tax risks. In addition, we prepared an application to the Russian Ministry of Economic Development and the client was provided with recommendations based on the analysis that we had conducted.
Support from our lawyers helped prevent potential mistakes of the client caused by a non-obvious interpretation of the legal rules. Therefore, the company avoided potentially large fines for violating currency and tax legislation.