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New tax regime and disclosure programme in Russia.
KEY POINTS
- New Russian law on the taxation of controlled foreign companies and other anti-offshore measures herald a new approach to tax planning.
- The present simple residency definition is likely to be temporary.
- A new controlled foreign company (CFC) law came into effect on 1 January 2015.
- New tests determine whether foreign companies will be resident in Russia for corporate tax purposes.
- A voluntary disclosure programme is available to Russian and non-Russian citizens.
This year has probably become one of the most intriguing and difficult for those advising Russian clients regardless of where they live. In particular the new law on the taxation of controlled foreign companies (the CFC law)...
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