About the Author Peter Arnett, Partner   Peter Arnett recently joined Alinga and assumed a leading role in our consulting team. Peter specializes in taxation – both local and international with over twenty five years’ experience. He has worked in Russia for sixteen years, solving clients’ business issues. Peter also has experience in two other jurisdictions, the UK – where he qualified as an accountant, and Singapore where he spent 3 years as a Tax Director with a "Big 4" accounting firm. Clients trust him because he brings them practical, relevant solutions and high quality advice. During his career he has developed expertise in M&A taxation, international taxation and cross-border structuring, and has served clients in nearly all industry sectors. His experience as a former partner in a “Big 4” firm, has given him strong management skills, particularly in the areas of finance, people development and risk management.       Follow Alinga:   Also on our Site: Russia's Simplified Taxation IFRS vs. RAS The Post-Merger Integration Process: The "Russia" Factor IFRS For SMEs   Alinga Consulting Group +7 (495) 988-21-91 consult@acg.ru

Russia’s new "deoffshorization" law is part of a concerted effort by governments around the world to regulate and tax the income and gains diverted to tax havens by businesses and individuals.

By 2018 Russian authorities could be receiving information, previously secret, about shareholdings and beneficial ownership in countries around the world, including from some of the favorite low-tax jurisdictions.

Responsibility of Tax Residents of Russia:

• to disclose significant ownership (> 10%) in offshore companies, and
• to pay Russian tax on the overseas profits of certain offshore companies, called controlled foreign companies ("CFCs")

Is Deoffshorization Legislation Applicable To You? Take Our Test And Find Out!

Alinga is ready to help:

• Identifying any foreign group companies which might be Russian tax resident under the "effective management" test.
• Reviewing your group structure and determining the potential Russian (and overseas) CFC status of group companies.
• Filing notices of participation in foreign companies and control over CFCs with the authorities.
• Advising on possible restructuring of the group to avoid CFC issues.
• Assessing CFCs to determine whether any exemptions might be appropriate.
• Assisting with the collection of the necessary supporting documentation for a CFC.
• Maintaining the accounting records of overseas group companies (whether CFCs or not), calculating their local tax liabilities and any of their profits attributable to a Russian controlling shareholder under the new law.

Talk to our experts before the tax authorities talk to you!

• The new era of cooperation between the world's tax authorities will radically change the effectiveness of existing offshore holding structures.
• Alinga has the accounting, tax and legal experts to help clients devise the optimum structure for holding their personal and business investments and to stay compliant with the law.

 Contact Alinga Today
Telephone & Fax: +7 (495) 988-21-91
consult@acg.ru