A Russian proposal to tax controlled foreign corporations (CFCs) was passed by the Council of the Federation on November 19 and by the State Duma the day before, Russian news agency TASS and the Russian Legal Information Agency have reported. Known as the “deoffshorization” proposal. . .
WTAS, a firm founded 12 years ago by members of now-defunct accounting firm Arthur Andersen, has renamed itself Andersen Tax. Andersen Tax will be a member of a newly created international entity called Andersen Global.
The firm has 17 offices in the US and locations in Switzerland, Russia, France, Italy, and The Netherlands. Release
China and Russia on October 13 signed an agreement for the avoidance of double taxation. The agreement would replace a tax treaty signed by the countries in May 1994. Under the new agreement, dividends . . .
The financial results tax is now expected to go effect in 2017. See: TASS.
The Russian government has approved a draft tax treaty with Hong Kong, Russian news . . .
In a paper released November 13, the UK’s HMRC has announced that it will begin tax treaty negotiations with Nepal, Romania, Trinidad, Tobago . . .
Russian President Vladimir Putin on November 24 signed the “deoffshorization” law, requiring Russian companies and individuals to pay tax on undistributed controlled foreign corporation (CFC) profits. The new law, effective January 1, also contains provisions clarifying the tax residency status of foreign legal entities, adds new rules on indirect transfers of immovable property through share transfers, and requires that a recipient of treaty benefits be the beneficial owner of the income.
UPDATE (11/28/2014): The new law contains a few changes from earlier drafts, writes EY in its Russian Tax Brief, released November 27. For analysis of the changes, see EY.
Russia will begin automatic exchange of financial account information under the OECD/G20 Common Reporting Standard in 2018, Finance Minister Anton Siluanov told reporters November 17, Russian news agency TASS. . .
Singapore and Russia have signed a protocol amending to their tax treaty . . .
Russian President Vladimir Putin on November 3 signed a law ratifying the Convention on Mutual Administrative Assistance in Tax Matters, Russian news . . .
China has signed a tax treaty with Chile and a protocol to its tax treaty with Russia, China’s State Administration of Taxation said in July 3 English-language releases. The treaty with Chile, signed May 25, is is the 100th treaty signed by China, the government . . .
Kirill Roubalsky has joined the Moscow office of Dentons as a senior associate in the Tax and Customs practice. Roubalsky, fomerly with Pepeliaev Group, Schekin & Partners and Muranov, Chernyakov & Partners, specializes in tax litigation, general corporate and international tax law and tansfer pricing issues. Release
Russia will not increase tax rates or the fiscal burden on business for four years, said Russian President Vladimir Putin according to a June 19 report in TASS. Putin also said Russia will take steps to increase the transparency . . .
Despite heavy lobbying by domestic retailers, Russia will only enact minor increases to customs taxes for online cross-border sales, reports Adrien Henni, in the June 2 edition of East-West Digital News.
Russian President Vladimir Putin on December 1 signed addendums to the country’s tax code providing enhanced tax benefits to residents of the free economic zone in Crimea, Russian news agency TASS has reported. Under the new provisions . . .
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