Pepeliaev Group advises that on 11 August 2020 amendments to the Federal Law “On currency regulation and currency control” will come into effect. The amendments extend possibilities to utilise foreign accounts of foreign branches and representative offices of Russian entities. They also introduce the obligation to submit statements on the flows of financial assets in foreign accounts, and provide various other clarifications.

Pepeliaev Group advises that the Russian Finance Ministry has announced on its official website the launch of the unilateral denunciation of the double tax treaty with the Republic Cyprus.

Pepeliaev Group advises that the Russian Government has prepared a draft law to amend the Russian Tax Code (the “Tax Code”) with respect to the implementation of individual areas of tax policy. 

Pepeliaev Group advises that the Russian Government has prepared a draft law to amend the Russian Tax Code in order to implement certain areas of the tax policy. 

Pepeliaev Group advises that on 1 September 2020 amendments are coming into effect to the Bankruptcy Law which provide for a new procedure of out-of-court bankruptcy of individuals.

Pepeliaev Group advises that the law amending the Russian Town Planning Code has been adopted; the amendments make it easier to carry out construction and change land use planning documents.