Tax law and tax disputes
Alerts
15April2016
Administrative liability to increase considerably for gross violations of accounting requirements
Pepeliaev Group advises that the Russian President has signed Federal Law No. 77-FZ , which considerably amends article 15.11 of the Russian Code of Administrative Offences regarding the liability for gross violations of accounting requirements, including requirements for financial statements. The Law extends the limitation period for holding a person liable for the above offences under administrative legislation.
06April2016
Residents of the free port of Vladivostok:first agreements and expected changes
Pepeliaev Group advises that, on 16 March 2016, the first agreements were signed between JSC Far East Development Corporation and residents of the free port of Vladivostok, which have already been included in the register of residents . Moreover, a draft law has been prepared extending the composition of potential residents to include companies that are already operating.
28March2016
The Government approved three new priority development areas (PDA) on Sakhalin island.
Pepeliaev Group advises that on 17 March 2016 the Russian Government signed two Resolutions that two new priority development areas be established in the Sakhalin Region.
18March2016
New amendments to the “deoffshorisation and repatriation” tax rules answer old questions and raise new ones
Law firm Pepeliaev Group advises that new amendments have come into force to the tax rules regarding deoffshorisation and repatriation.
The new amendments answer certain questions regarding the procedure for applying the rules which were adopted earlier. However, some questions remain unanswered and new issues have arisen. It is expected that during the spring session the State Duma will adopt one more set of amendments (the third one). In the meanwhile, one year after the deoffshorisation rules have come into force, they still lack clarity and definition. This compels businesses to hold off adopting and performing specific decisions aimed at adapting to the new tax conditions.
11February2016
"Thin" capitalisation (under-capitalisation): new rules
Pepeliaev Group advises that on 29 January 2016 the State Duma adopted a federal law which significantly changes the rules for taxing interest on debt obligations to related parties and/or on debt obligations raised with such parties involved (the so-called "thin" capitalisation, or "under-capitalisation" rules). The law also clarifies many issues which may arise in connection with law enforcement practice where these rules are applied.
09February2016
The Government has approved three new priority development areas (PDA)
Pepeliaev Group advises that on 28 January 2016 the Russian Government adopted a resolution to establish first priority development areas (PDAs) in monotowns in Russia and a new priority development area in the Far East.
28January2016
Special rules for conducting joint scheduled audits in relation to residents of priority development areas
Pepeliaev Group advises that on 1 January 2016, special rules took effect for conducting joint scheduled audits in relation to residents of priority development areas in Russia.
17November2015
Russia`s Federal Tax Service has a new blacklist
Pepeliaev Group advises that a draft has appeared of a new blacklist of offshore jurisdictions.
30October2015
A draft law to improve VAT
Pepeliaev Group advises that Russian Ministry of Finance has placed, for public consultation a draft law "On amending Chapter 21 of Part II of the Russian Tax Code (regarding the procedure for determining the tax base when an advance payment is received).
20July2015
New regulation of factoring transactions under foreign trade contracts
Pepeliaev Group advises that a Federal Law has been enacted, enabling Russian banks and factoring companies to offer Russian clients financing services involving the assignment of receivables (factoring) under foreign trade contracts.
15July2015
VAT charged when non-payment under a contract is insured: the position of the russian constitutional court
Pepeliaev Group advises that Russian Constitutional Court has held that article 162 of the Russian Tax Code, which in fact establishes double VAT on insurance payouts that a supplier of goods (work, services) receives under a contract insuring default by the buyer, was inconsistent with Russian Constitution.
24December2014
Intra-group expenses
Pepeliaev Group advises that in view of new case law, any expenses of a Russian company incurred to make payments to a foreign company within one international group of companies may not be treated as deductible for profit tax purposes.