The Russian Ministry of Finance has announced that it will decide by mid-2025 whether to adjust national legislation in response to the global tax reform under Pillar Two.

This announcement was made in a release on 11 December 2024.

The Ministry is currently conducting analytical work based on the results of  2024, it plans to closely review the tax returns of companies that may fall under Pillar Two. If it is determined that a company has paid taxes on a Russian tax base outside of Russia in 2024, the Ministry intends to implement countermeasures.

While international financial information exchange remains limited, the Ministry notes that much of this data is publicly available, and it will still be able to obtain the necessary information.

Based on the analysis of 2024 data, the Ministry will finalise its decision on whether legislative adjustments are required and, if so, what form they should take.

Any potential changes to the tax legislation will not be introduced before 2026, as 2025 will serve as a transitional year.