Tax law and tax disputes

In an information alert dated 11 January 2010, Pepeliaev Group reported that Federal Law No. 381-FZ dated 28 December 2009 “On the Fundamentals of State Regulation of Trade in the Russian Federation” had been adopted at the end of 2009 and would come into force from 1 February 2010.

Wer reported that the Presidium of the Russian Supreme Arbitration Court passed Resolution No. 11200/09 dated 24 November 2009, clarifying when a taxpayer should deduct interest on loan obligations for profit tax purposes.

As specified in the decision of the Supreme Court of Russia, a consignment note (form No. 1-T) and a delivery note (form TORG-12) are not equivalent source documents and should be applied for different legal relations.

Federal Law No. 383-FZ dated 29 December 2009 “On Amendments to Part One of the Russian Tax Code and Specific Legislative Acts of the Russian Federation” entered into force on 1 January 2010.

We inform you that recently the Federal Law No. 368-FZ of 27 December 2009 enacting from 2011 FY, which abolished the requirement of minimum RUR 500 mln. participation of a Russian parent company in its subsidiary distributing dividends for the purpose of participation exemption rule, had been adopted.