Russia presents a draft bill for the income tax return for small taxpayers
On 21 March 2019, the Russian government announced a bill to amend the income tax return for small taxpayers. The bill requires legal entities with at least 10 employees to file an electronic income tax return and proof of paid insurance from 1
See MoreRussia: Parliament proposes to reduce the corporate property tax rate
On 6 March 2019, a draft bill was presented to the State Duma (Lower House of Parliament) proposing to lower the maximum amount of the property tax rate to be taxed at the cadastral value. According to the bill, the corporation tax rate for real
See MoreRussia: Finance Ministry publishes Guidance on MAP
On 30 January 2019, the Russian Ministry of Finance published on its official website a guidelines on the mutual agreement procedure (MAP) provided for in double taxation agreements. The guideline contains recommendations for the initiation and
See MoreRussia publishes list of foreign states for automatic exchange of CbC reports
On 25 December 2018, The Federal Tax Service of Russia published a new list of foreign states (territories), with which Russia will automatically exchange Country-by-Country (CbC) reports. Now the list includes 53 foreign countries and 4
See MoreRussia: Central Bank hikes late payment interest penalty
On 14 September 2018, Russia’s central bank raised the late tax payment interest rate from 7.25% to 7.5% and said it would not make any foreign currency purchases until the end of the year, citing the risk of higher inflation and rouble
See MoreIMF Report Comments on Russia’s Economy
On 12 September 2018 the IMF published a report following consultations in Russia under Article IV of the IMF’s articles of agreement. The economy is recovering from the recession of 2015–16 owing to an effective policy response combined with
See MoreRussia modifies transfer pricing rules
On 3 August 2018, the President of the Russian Federation signed Law No. 302-FZ About changes to Part One and Two of the Tax Code of the Russian Federation" Once the new law enters into force, only transactions between Russian companies that apply
See MoreRussia modifies the regional corporate tax rate
The Russian Government amended the regional corporation tax rate and published it on 3 August 2018 in the Official Journal. The amendments permit the various regions to repeal the minimum rate of 13.5% in force in their territory from 1 January
See MoreRussia: Parliament considering the Bill amending CFC and other rules
Recently, the Russian lower house of parliament considering the Bill No. 442400-7, which includes various measures. The Bill includes following measures: 1. Adjust the CFC rules so that a person will not be recognized as a controlling person of a
See MoreRussia: The Lower House of Parliament Approves Bill Amending Tax Administration
On 18 July 2018, the Russian lower house of parliament adopted the Bill No. 249505-7 on improving tax administration in the third and final reading. The Bill includes following measures: Eliminate transfer pricing control (audit) for domestic
See MoreRussia publishes Order on CbC report automatic exchange
On 26 June 2018, Russia has approved the Order of the Federal Tax Service of 30 May 2018 No. MMV-7-17 / 359 regarding the States and Territories list with which Russia will automatically exchange Country-by-Country (CbC)
See MoreRussia approves format for CbC Reports and Notification for multinational groups
On 6 May 2018, Russia’s Federal Tax Services (FTS) issued Order No. MMV-7-17/123 and Order No. MMV-7-17/124 issued on 26 April 2018 in the Official Gazette. The orders approves the format and method of submission for Country-by-Country (CbC)
See MoreRussia publishes bilateral and multilateral APA Procedure
On 3 May 2018, Russia published Decree No. 60 on the Official Gazette, which approves the procedures for the conclusion of advance pricing agreements (APAs). The Russian Finance Ministry delegated the competent authority powers with respect to
See MoreRussia introduces VAT on B2B foreign digital services from 2019
From 1 January 2019, Russia will introduce new value added tax (VAT) rules with respect to business-to-business (B2B) supplies of e-services provided to Russian customers. Russia introduced VAT liabilities on offshore providers of electronic
See MoreRussia approves bilateral exchange agreements for CbC reports
The Government of the Russian Federation has published Decree No. 184 of 21 February 2018, which amends Decree No. 805 of 14 August 2014 on the conclusion of agreements for the exchange of information in tax matters. The changes include the
See MoreRussia clarifies the deduction of losses incurred by consolidated group
On 9 March 2018, the Ministry of Finance (MoF) clarified the deduction of losses incurred by consolidated group members. Accordingly, the MoF stated that, under article 278.1(1) of the Tax Code (TC), the tax base of a consolidated group of taxpayers
See MoreRussia: MOF clarifies the application of the 0% rate to dividends
In March 2018, the Ministry of Finance (MoF) clarified the application of the 0% (CIT) rate to dividends received by a company in reorganization. According to article 284(3.1) of the Tax Code, a tax rate of 0% is applied to dividends received by a
See MoreRussia: MoF clarification on application of thin capitalization rules in the context of tax treaties
Recently, the Ministry of Finance (MoF) issued a Guidance Letter (No. 03-03-06/1/87340) and clarified the application of domestic thin capitalization rules in the context of tax treaties. According to a statement by the MoF, interest paid by a
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