Russian government proposed to increase VAT rate to 20% 15.06.2018 | Russia VAT rate is very likely to rise from 18% to 20% starting from 2019. Respective draft law has been introduced by Russian Government on June 15, 2018. First reading by the State Duma will take place on July 3, 2018. There will be no change to the reduced VAT rate of 10% on number…
Russia: Transfer Pricing 23.02.2015 | Beginning in 2014 all external economic operations between related parties are subject to transfer pricing control.
Deoffshoriziation – Update 22.02.2015 | On January 1, 2015, the law came into force amending the Tax Code of the Russian Federation regarding the taxation of profits of controlled foreign companies and the income of foreign organizations.
Deoffshorization 24.11.2014 | The Federation Council approved a law amending the Tax Code of the Russian Federation (Tax Code) regarding the taxation of profits of the controlled foreign companies and income of foreign organizations (“Law on Deoffshorization”). This bill introduces a concept of “controlled foreign company” and “controlled entity” to the tax code. According to the bill a…
Upper Limit of Income Eligible for Transition to Simplified Taxation System Raised but Its Indexing Cancelled 15.08.2009 | Federal Law No. 204-FZ of 19.07.2009 “On amendments to Part Two of the RF Tax Code” In 2010 the revised upper limit of income eligible for transition to the simplified taxation system of RUB60mn will start to apply. To be eligible for the transition in 2010 the income for the 9 months of 2009 shall…
Upper Limit of Deductible Interest Increased up to Twofold CBR Rate on August 1 05.08.2009 | Federal Law No. 202-FZ of 19.07.2009 “On amendments to Chapters 23 and 25 of the RF Tax Code and on the repeal of individual provisions of the Federal Law “On amendments to Part One and Part Two of the RF Tax Code and individual legislative acts of the RF”” The legislators have temporarily increased for…
Expenses of Negotiations with Individual Customers May Be Recognised as Representation Expenses 05.06.2009 | Letter by the Finance Ministry of the RF No. 03-03-06/2/64 of 27.03.2009 “On accounting of representation expenses incurred in negotiations with individuals” Referring to an individual query the Finance Ministry authorised recognition of expenses of negotiations with individuals as representation expenses for profit tax purposes (with regard to the limits in effect). This authorisation shall…
Government Approved List of Technological Equipment Exempt from Import VAT 01.06.2009 | Resolution by the RF Government No. 372 of 30.04.2009 “On approval of the list of technological equipment (inclusive of components and spare parts thereto) with no analogues manufactured in the Russian Federation, imports of which into the customs territory of the Russian Federation is exempt from value added tax” It took the Government four months…
Major Simplification Awaits VAT Refund Procedure 20.05.2009 | Finance Ministry is drawing up proposals on reducing the period of VAT refund. Currently the procedure takes from 4 months to half year with each negative VAT return (i.e. one with input VAT exceeding output VAT) subjected to compulsory in-house audit by tax authorities. Procedure proposed by the Finance Ministry is expected to cut the…
Government Approved List of Technological Equipment Exempt from Import VAT 15.05.2009 | Resolution by the RF Government No. 372 of 30.04.2009 “On approval of the list of technological equipment (inclusive of components and spare parts thereto) with no analogues manufactured in the Russian Federation, imports of which into the customs territory of the Russian Federation is exempt from value added tax” It took the Government four months…
