A bill that would amend Russia's thin capitalisation rules has passed its third reading in the State Duma.
At the start of the new year, we traditionally summarise recent legislative initiatives and comment on key tax developments effective from 1.1.2016 and expected changes. You can find more details in our tax flash reports.
The Ministry of Finance announced on 30 December 2015 that it will promote amendments to the current Cyprus Intellectual Property (IP) tax regime in order to introduce a new IP tax regime as from 1 July 2016. The new IP tax regime will be fully aligned with the conclusions of the OECD’s Base Erosion and Profits Shifting (BEPS) Action 5 report released in October 2015.
Further to our newsletter №-3-2015, following a meeting held on 10 December 2015, the House of Representatives voted additional proposals which amend the tax framework in relation to individuals and companies.
On 3 December 2015, in his annual state-of-the-nation address to the Russian Federal Assembly, President Vladimir Putin proposed extending the tax amnesty and improving how it works.
Review of the latest letters from the Russian Ministry of Finance Issue No. 8, July 2015