Russia suspends late filing VAT return filing penalties for business using simplified tax regime

08 May, 2025

Russia, on 25 April 2025, temporarily suspended penalties for late VAT return submissions in 2025 for businesses using the simplified tax regime who, from 2025, are required to calculate and pay VAT. Taxpayers using the simplified taxation system

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Malaysia ratifies new income tax treaty with Russia

02 May, 2025

Malaysia has completed the ratification of the new 2024 Malaysia - Russia Income Tax Treaty (2024) through the publication of the Double Taxation Relief (The Government of The Russian Federation) Order 2025 in the Official Gazette PU (A) 112 of 28

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Russia: FTS confirms VAT on leased crypto mining equipment is non-deductible

30 April, 2025

Russia’s Federal Tax Service (FTS) clarified that VAT on leased crypto mining equipment is not deductible on 9 April 2025. The tax authority explained that since digital currency mining is not a VAT-taxable activity, input VAT included in lease

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Russia proposes 10% windfall tax on large profits for 2024–2025

30 April, 2025

The Russian State Duma is reviewing a draft law that would impose a windfall tax on banks and major energy companies, including those involved in hydrocarbon extraction, petroleum refining, and the production and export of liquefied natural gas

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UAE: Cabinet of Ministers approves tax treaty with Russia

18 April, 2025

The UAE Cabinet of Ministers approved the income and capital tax treaty with Russia on 14 April 2025. Earlier, representatives from Russia and the UAE have signed a new income and capital tax treaty on 17 February 2025 . The treaty will come

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Russia: FTS clarifies rules on reduced VAT rates and exemption criteria

08 April, 2025

The Federal Tax Service (FTS) of Russia has issued a reminder on the proper application of reduced VAT rates of 5% and 7%. This announcement was made by FTS on 17 March 2025. Organizations and entrepreneurs must apply these rates consecutively

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Russia: MoF clarifies corporate income tax exemptions for share redemptions and funds from companies

08 April, 2025

The Russian Ministry of Finance (MoF) has clarified the corporate income tax treatment for two scenarios in Guidance Letter No. 03-03-06/2/18948, issued on 17 March 2025. The first scenario involves share redemption in a foreign entity, while the

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Russia clarifies taxation of foreign companies income from digital assets

02 April, 2025

Russia's Ministry of Finance has issued  guidance letter No. 03-08-13/114723 on 14 March 2025 clarifying the taxation of foreign companies' income from digital financial assets. According to the letter, digital financial assets are defined as

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Russia mandates transfer pricing method in controlled transaction notifications

27 March, 2025

Russia's Federal Tax Service (FTS) issued Letter No. ШЮ-4-13/2827@ on 13 March 2025 about the notification of controlled transactions. It clarifies that from 2024, taxpayers must disclose the transfer pricing method used to justify the market

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Russia, Myanmar finalize talks on investment protection agreement

11 March, 2025

Myanmar and Russia issued a joint statement in Moscow announcing the conclusion of negotiations for an investment protection agreement (IPA) 4 March 2025. . Russia and Myanmar finalized the talks on a draft of agreement on encouragement and

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Russia keeps key interest rate at 21%

26 February, 2025

The Central Bank of Russia (CBR)  announced its decision to keep the key rate at 21% on 14 February 2025. Earlier, CBR increased the key interest rate from 19% to 21%, on 25 October 2024. This is the highest key interest rate in Russia since

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Russia, UAE sign new tax treaty

18 February, 2025

Representatives from Russia and the UAE have signed a new income and capital tax treaty on 17 February 2025 . The treaty will come into effect after the exchange of ratification instruments, and once it is in force, it will replace the limited

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Russia exempts CFC profits from IHC tax base until 2029

14 February, 2025

Russia’s Ministry of Finance has clarified that international holding companies are not required to include the profits of their controlled foreign companies (CFCs) in their corporate income tax base for tax periods ending before 1 January

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Russia clarifies tax implications of dividends paid in property

11 February, 2025

Russia's Ministry of Finance has issued guidance Letter No. 03-07-11/121626 on the corporate income tax and VAT implications of dividends distributed in the form of property. The letter confirms that transferring ownership of assets to

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UAE, Russia hold final round of negotiations for DTA

11 February, 2025

The United Arab Emirates (UAE), represented by the Ministry of Finance, has successfully concluded the final round of negotiations for the Double Taxation Avoidance Agreement (DTA) on income and capital with the Russian Federation. This

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UK to suspend 1994 tax treaty with Russia

07 February, 2025

The UK's tax, payments and customs authority (HMRC) has announced that the 1994 tax treaty with Russia will be suspended starting 6 April 2025 for income tax and capital gains tax. The suspension will extend to corporation tax and all other taxes

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Uzbekistan adopts CIS tax information exchange protocol

04 February, 2025

Uzbekistan adopted the amended protocol of the CIS Mutual Assistance Agreement on 13 December 2024. The Commonwealth of Independent States (CIS) is an intergovernmental organization that promotes cooperation among former Soviet republics. It was

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Sweden suspends tax treaty with Russia

03 February, 2025

The Swedish government has decided to suspend the tax treaty 1993 income tax treaty with Russia. This means the tax treaty will no longer apply from 10 February 2025. This announcement was made by the Ministry of Finance on 30 January

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