On 22 March 2024, the Russian Central Bank declared its decision to maintain the key interest rate at 16%. The key rate is a crucial factor for tax purposes regarding the safe harbor rates applied to interest income and expenses related to

Russia's parliament is considering a major change to its income tax system, proposing a progressive structure with higher rates for the wealthiest individuals. Under the proposed plan, earners making up to 5 million rubles (approximately $68,000

On 4 March 2024, the Finance Committee of Israel’s parliament (Knesset) passed a measure to impose a 6% tax on financial institutions holding assets equivalent to at least 5% of the total assets held by Israeli banks. This additional tax will be

The Russian Ministry of Finance (MoF) issued Guidance Letter No. 03-12-11/1/126454 on 27 December 2023, providing clarification on the application of Order No. 86n from 5 June 2023. This order expanded the list of states with preferential tax

On 10 January 2024, the Russian Federal Tax Service (FTS) published updated list of jurisdictions that do not exchange tax information with Russia (Decree No. ЕD-7-17/914). The list pertains to the tax exemption for profits of controlled foreign

On 15 January 2024, Israel's Ministry of Finance proposed to increase the tax rate on bank profits from 17% to 26% in both 2024 and 2025. At present, banks and other financial institutions pay a 17% VAT-equivalent tax on their total payroll and