Special economic zones (SEZs) are being used to develop the more remote parts of Russia and countries of the Commonwealth of Independent States (CIS), but there are concerns that bureaucracy and government intervention are stifling their growth.
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 Egorov, Puginsky, Afanasiev & Partners, 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.
Dmytro Marchukov contributes to OffshoreAlert Fraud and Asset Recovery Blog “Penultimate” beneficial owners in Ukrainian companies”
14 October last year Ukrainian parliament passes an updated – FATF-oriented – law with an overly optimistic and catchy title “On Preventing and Combatting Legalization (Laundering) of the Criminally Acquired Income, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction” (a.k.a. Anti-Laundering Law) and its satellite “On Amending Certain Legislative Acts of Ukraine on Defining Ultimate Beneficiaries and Public Persons” (a.k.a. UBOs Law).
Ilya Nikiforov, Anna Ivanova, Vladimir Stepanov, Mark Rovinskiy, Pavel Sadovsky, Maria Demina, Maria Kobanenko, Denis Gavrilov and Elena Kazak became the authors of Doing business in Russian Federation by Practical Law.