Stephen Coleclough
Business Shapers
21 October 2014

Latest on Russian Tax Proposals

On 2 September 2014, the Ministry of Finance of the Russian Federation published the latest version of its proposals on CFCs (Controlled Foreign (i.e. non-Russian) Corporations). The proposals apply to all types of entities, including trusts and foundations and Russian resident individuals. There are also information powers and provisions to deem some non-Russian entities tax resident in Russia.

These proposals have been floating around since March and are part of the Russian Federation’s attempt to obtain its fair share of Russian tax from those people and businesses in Russia using foreign entities to shelter profits abroad, or even reduce profits in Russia.

Read the full article on Business Shapers.