On October 22, 2014 a draft law on the taxation of the Controlled Foreign Companies was submitted to the State Duma of the Russian Federation. The Duma’s specialized committees should provide their comments on the draft before November 2, 2014.
An article by Dmitry Tugushi and Roman Krylov is published in International Litigation News, Newsletter of the International Bar Association Legal Practice Division.
EPAM publish an update on Pharmacy and Pharmaceuticals Market Regulation News.
On September 2, 2014 the Russian Ministry of Finance posted the third revision of the draft law on taxation of controlled foreign companies - CFCs (hereinafter the “Draft Law”) on its site.
The Firm lawyers analyse the prerequisite for a foreign court ruling to be recognized and executed in Russia.
The President of the Russian Federation signed federal law on the new amendments concerning the processing of personal data in Russia on July 22, 2014. Under Article 4 of this Federal Law the amendments shall come into force on September 1, 2016.
Russia is considering a tax amnesty for Russian-owned offshore companies as part of a wider effort to encourage the repatriation of capital and discourage the use of offshore companies for tax avoidance, a government spokeswoman told Tax Analysts.
EPAM has made a number of promotions in its Moscow office. Real estate and construction lawyer Elena Gavrilina has been made partner, litigators Alexander Vaneev and Vera Rikhterman have become counsel and competition lawyer Elena Kazak is promoted to senior associate.
The Finance Ministry is pushing ahead with its program to entice Russian-owned offshore firms to repatriate capital. A new law will impose penalties on such companies for tax evasion, but offers the carrot of a 2-year amnesty for those firms which decide to relocate to Russia.
Russia’s competition authority Federal Antimonopoly Service (FAS) is likely to face more legal challenges over its warnings to dominant companies on anticompetitive practices after the country’s Supreme Arbitration Court (VAS) ruling allowing Gazprom’s subsidiary to dispute a warning against it at arbitration courts, two Moscow based lawyers said.
Newsletter of the International Bar Association Legal Practice Division publishes an article of Oleg Ushakov and Alexander Filchukov.
On May 7, 2014 high-importance amendments were introduced to the Russian Civil Code with regard to legal entities (the Law). The amendments will take effect on September 1, 2014.
The Finance Ministry is finalizing plans to levy a property tax on individual homeowners and ratchet up the cost by pegging the tax rate to cadastral property values.
CEE Legal Matters Magazine publishes an article by Natalia Korosteleva and Evgeny Bolshakov.
The proposed tie-up between Holcim and Lafarge is unlikely to face competition hurdles in Russia. The country’s competition authority, the Federal Antimonopoly Service (FAS), is expected to assess the deal’s impact on regional cement markets, in which the two European companies' presence is largely complementary, said two Moscow-based lawyers.