Insights

Probate Law Reform: Maintaining Estate Funds

Federal Law No.259-FZ dated July 29, 2017 (the “Law”) introduced significant amendments to the Civil Code of the Russian Federation (“the Civil Code”) in regard to the regulation of inheritance-related matters. One of the key novelties was the emergence of a new tool – estate funds. The Law provides for procedures to set up an estate fund, determines the legal status of its beneficiaries and sets forth procedures for managing the fund. The Law will take effect on September 1, 2018.

“We Increasingly See Clients Who Want Their Lawyers to Be Compliant With FCPA, UKBA and the Russian Federal Anti-Corruption Laws” | interview with Mikhail Kazantsev

Leaders League publishes an interview with Mikhail Kazantsev.

Mikhail Kazantsev: Capital Amnesty Is an Outreach to the Business Community

Russia’s Federal Law “On Individuals’ Voluntarily Declaring Assets and Accounts (Deposits) with Banks and on Amending Certain Legislative Acts of the Russian Federation” - a law broadly known as the “Capital Amnesty Law” - was adopted on June 8. Under the amnesty, taxpayers are able to declare their foreign assets by filing a special declaration with Russia’s tax authorities. Meanwhile, the state guarantees a waiver of tax proceedings related to the assets declared. Mikhail Kazantsev, a member of the taskforce charged with developing the draft law and a partner at EPAM, whose experts deal with applying the capital amnesty and act as public business ombudsmen, spoke with RAPSI about what had come out of it and how it might operate in practice.