Norway has updated its National Budget for 2024, which proposed that ground rent tax for land-based wind power plants owned by entities with participant determination, such as responsible companies and limited partnerships, be calculated using a

Norway's Ministry of Finance has initiated a public consultation regarding the proposed introduction of a 12-month time limit for tax deductions for companies on unrecoverable trade receivables from related parties. A corresponding time limit is

Russia and Abkhazia took a significant step towards economic cooperation by signing an income tax treaty, on 7 May, 2024, marking the agreement as a first between the two regions. The treaty, once ratified, will prevent double taxation and

The Guidance Letter No. 03-12-11/2/11449, published by the Russian Ministry of Finance (MoF) on 12 February, 2024, addresses the tax exemption applicable to profits of Controlled Foreign Companies (CFCs) situated in jurisdictions with which Russia

The Hong Kong Inland Revenue Department (IRD) has released the synthesised text of the tax treaty with Russia, as affected by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting

The Russian parliament is currently considering a draft bill that aims to modify the thresholds governing the application of the simplified taxation system for legal entities. Key provisions under consideration include: Employee Threshold