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 Belgian Chamber of Representatives, on 2 May, 2024, passed the law on various tax provisions including initiatives for reforming investment deductions. Other notable measures include provisions concerning the Pillar Two Global Minimum Tax 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

Belgium’s Parliament has adopted the changes to the Pillar Two global Minimum Tax Rules approved for multinational enterprises and large-scale domestic groups in December, 2023. The amendments will be enforced for fiscal years beginning from 31

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