On December 17, 2013 EPAM in Moscow hosted a legal discussion entitled “What’s Going On in the International Tax Policy and Its Impact on the Russian Economy?”. The meeting addressed the most important 2013 amendments to the tax legislation.

At the discussion the Firm’s experts shared their experience and discussed the latest international taxation trends with the attendees, assessed the efficiency of various tax planning tools and the practical impact of the latest legislative initiatives on Russian business.

The discussion was opened by Igor Schikow, Head of Tax Practice, who put the primary focus on the tax transparency growing worldwide and on the steps taken with regard to international communication. The attendees discussed the eventual consequences that Russia’s ratifying of the Convention on Mutual Administrative Assistance in Tax Matters may have. The discussion also addressed the international actions taken to prevent base erosion and profit shifting (BEPS), as well as the reasons for their adoption with regard to Russia.

Mark Rovinskiy, Deputy Head of Tax Practice, spoke about the main tax changes under the deoffshorisation policy implemented and about the Russian tax policies. Attendees discussed the practical value of the tax action already taken and assessed the eventual practical impact of the Russian tax law being supplemented with such institutions as the controlled foreign corporation rules (CFC rules), the concept of a beneficial owner of the income and of residence rules for corporate tax payers.  

EPAM experts spoke about the current judicial practice in the international taxation as demonstrated by a number of high-profile cases.

The event was attended by representatives of many domestic and international companies.