Tax consequences of capital improvements of leased property: new approaches

Client identification rules have been changed for the sale and purchase of jewellery

Rules have come into effect for the compensation of damage from spills of oil and oil products

A new recording procedure in the area of waste management has been adopted

New rules for drawing up certificates for waste of hazard classes I-IV Pepeliaev Group advises that 1 January 2021 saw the entry into force of Order No. 1026 of the Russian Ministry of Natural Resources and Environment dated 8 December 2020 “On approving the procedure for issuing certificates and the standard forms of certificates for waste of hazard classes I-IV”.

The Government has approved new rules for preventing and remedying spills of oil and oil products

A law has been published that establishes specific aspects of how publicly available personal data is to be processed Pepeliaev Group advises that on 30 December 2020 a law was published that amends the Federal Law “On personal data” which regulates specific aspects of the processing and dissemination of personal data that is to be disclosed to an unspecified group of persons (rather than of publicly available personal data).

A law to improve Tax Monitoring Pepeliaev Group advises that the law to amend the Russian Tax Code provides for a number of measures to develop tax monitoring, such as lowering the thresholds to enter monitoring and extending the deadlines for applying to switch to monitoring; changing the procedure for information exchange between a monitored company and a tax inspectorate; a new procedure for suspending transactions in accounts and for conducting desk, field and cross-audits of a monitored company; changes in the procedure when a grounded opinion is drawn up at the initiative of the tax authority, and early termination of monitoring; and granting the participants in monitoring the right to have VAT and excise tax refunded under a declarative procedure.

Broadening information exchange between the Bank of Russia and the Russian Federal Tax Service The Russian Ministry of Finance has prepared amendments to the Tax Code the adoption of which may result in a significant increase of the volume of information transferred to the tax authorities concerning the transactions of bank clients.

The Unified Register of SMEs that receive state support has been published for the first time The Russian Federal Tax Service together with the Ministry of Economic Development has for the first time made available to the general public the Register of small and medium-sized enterprises which have received state support measures both during the spread of the coronavirus infection and during earlier periods. 

Changes are being prepared for establishing starting (maximum) contract prices under law 223-fz Pepeliaev Group advises of the actions suggested by the state that are aimed at improving the mechanism of determining the starting (maximum) price of a contract (SMPC) in procurement by state-owned companies.

The new registration procedure for declarations of conformity Pepeliaev Group advises that, on 1 January 2021, the new registration procedure for declarations of conformity comes into force.