The Finance Ministry (MoF) has issued a Letter No. 03-01-23/30779 on 27th May 2016 for clarifying the responsibility of taxpayers to notify the tax authorities about CFCs. On the basis of section 3.1 of article 23 of the Tax Code, taxpayers have to notify the tax authorities regarding CFCs in relation to which they are recognized as controlling persons and this notification need to be submitted by 20 March of the year following the year. Here, CFC’s profits have to be included in the controlling company’s taxable base. Also, the MoF described that the Tax Code does not state the minimum income amount to be received by the controlling person in the form of the CFC’s profits due to the notification of the tax authorities.
«
Previous post
PGA Highlights: July 2016
PGA Highlights: July 2016
Related Posts
Finland to suspend 1996 tax treaty with Russia
March 13, 2026
The Finnish government had decided to suspend its income tax treaty with Russia, effective 1 July 2026, following Russia's partial withdrawal from the agreement in August 2023. The announcement was made in a press release issued on 12 March
Read More
Russia reminds organisations to file 2025 CFC notifications
March 11, 2026
Russia has reminded organisations that the deadline to submit notifications on controlled foreign companies (CFCs) for 2025 expires on 20 March 2026. This announcement was made on 4 March 2026. A CFC notification must be filed regardless of
Read More
Russia proposes overhaul of individual income tax with new progressive brackets
March 04, 2026
Russia’s Parliament has put forward a draft federal law aiming to restructure the country’s personal income tax (PIT) system. Under Draft Law No. 1160313‑8 on 25 February 2026, the reform would exempt low-income individuals from taxation
Read More
Russia: MoF proposes tax changes to ease SME transition in 2026
March 04, 2026
The Russian Ministry of Finance (MoF) has submitted amendments to the Tax Code aimed at helping small and medium-sized enterprises (SMEs) adapt to the tax changes that took effect in 2026. The Tax Code is proposed to be supplemented with the
Read MoreRussia considers one-time tax on bank windfall profits
March 04, 2026
Russia is considering a one-time windfall tax on banking sector profits, following a bill submitted to the State Duma. The initiative, filed under Bill No. 1162521-8, was published in the chamber’s electronic database. The excess profits for
Read MoreRussia: Bank of Russia cuts key policy benchmark by 50 bps
February 17, 2026
The Bank of Russia Board of Directors decided to cut the key rate by 50 basis points to 15.50% per annum on 13 February 2026. The economy continues to return to a balanced growth path. In January, price growth accelerated significantly due to
Read More