Risks resulting from an understated price for real estate In August 2022 the Russian Supreme Court adopted a Ruling whereby the understatement of a price for a land plot evidences that a party to a civil law transaction is directly or indirectly aware that the purpose of the transaction is unlawful.

New tax benefits for IT companies: the state continues to stimulate the domestic information technology industry On 14 July 2022, a law  came into force that introduced new measures to stimulate the domestic information technology industry. In particular, the conditions for obtaining tax benefits have been simplified, and the corporate profit tax rate has been reduced to zero for 2022-2024.

The unified tax account and aggregate tax obligation are introduced From 2023 all tax obligations will be booked in the aggregate on a unified account. The procedure is changing for taxes to be paid, for overpayments to be reimbursed and for debts to be recovered.

Restrictions have been introduced on the disposal by “hostile” non-residents of shares or membership interests in strategic enterprises, credit institutions and PSA Starting from 5 August 2022, new requirements were introduced by Decree of the Russian President with regard to transactions in in the most important sectors of the Russian economy.

New developments in legislation on special economic measures: what the participants on the pharmaceuticals market should anticipate Starting from 25 July 2022, federal laws dated 14 July 2022 No. 272-FZ and No. 273-FZ came into force, which amend the public procurement rules, including in the sphere of pharmaceuticals and medical items if special state security measures are introduced.

A law has been adopted on using waste from the use of subsoil resources Federal Law No. 343-FZ has been published that allows users of subsoil resources to extract minerals and valuable components from waste from the use of subsoil resources and to use such waste in different ways.

A draft law has been submitted to the state duma for the online trade of RX medicines On 29 July 2022, a draft law was submitted to the State Duma for an experiment to be conducted by introducing remote trading in prescription medicines.

Since 14 July a moratorium has been introduced on the application of a number of antitrust prohibitions and other measures have come into force that are aimed at supporting business under conditions where sanctions are in force Amendments have been made to the legislation that impose  a moratorium on the application of a number of antitrust prohibitions when procurement is carried out from a single supplier, change the threshold values for transactions to be agreed with the antitrust authority, improve the procedure for preferences and support to be provided to  outdoor advertising operators. 

The procedure for converting branches and representative offices of foreign legal entities into business entities has been established The Federal Law has been adopted, which establishes the procedure for converting branches (representative offices) of foreign legal entities into limited liability companies.

Fines reduced for unlawful foreign currency transactions and cancelled for violations committed because of sanctions Pepeliaev Group advises that, on 24 July 2022, a Federal Law came to force that reduces fines for parties involved in foreign trade for unlawful foreign currency transactions and cancels fines for violations committed because of sanctions.

The Russian President has signed a law to increase the protection of rights of personal data subjects and toughen the requirements for operators of personal data Pepeliaev Group advises that on 14 July 2022 the Russian President signed the law providing for large-scale amendments to the Federal Law “On personal data”/

Personal data of individuals will be removed from extracts regarding real estate Pepeliaev Group advises that, on 14 July 2022 a federal law was signed according to which information regarding individuals who own real estate will be provided to third parties only with the consent of the owner.