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The State Duma has accepted for review bill #418806-5 “On Introducing Changes to Separate Legislative Acts of the Russian Federation,” which provides for “creating favorable home environments” for foreign specialists in Russia.
Recent discussions have brought up questions on how to avoid having to pay high amounts of taxes and dues when providing employees with vacation. The ratification of the International Labor Organization’s Convention 132 “On Paid Vacation” (Federal Law #139-FZ dated 07.01.2010) has generated particular interest.
Prime Minister Vladimir Putin announced a ban on wheat and grain exports outside of Russia at a recent government presidium meeting. Although the country has sufficient reserves, Putin believes that agricultural producers’ exports may raise prices in the domestic market.
Special mediators would assist both parties to find common ground and get past old disagreements.
State Duma Deputies agree to replace the transportation tax with a gasoline tax.
VAT paid to a foreign government, as well as VAT paid to foreign suppliers, is not to be considered an expense for tax purposes.
In Russia, a method to resolve disputes between banks and customers without having to bring such cases to court may soon be in place. This would allow conflicts to be resolved much faster and with less cost to both parties involved. The arbitration would be impartial and free for the claimants.
Failing to pay taxes, especially if the unpaid amount is large enough, could demand a criminal investigation. Police usually find out about such tax evasion via the tax authorities, who are required to hand over any applicable materials to them in such situations. The Federal Tax Service outlines what actions should be undertaken after these materials are submitted to the police for investigation in Letter #SHT-22-2/174@, dated 03-11-10.
On June 9, Russia’s State Duma approved in its second reading a law outlining punishment for corporate raiding.
The State Duma is considering the bill in its second reading.
The Ministry of Finance has stated in a letter that its letters are of value only to those whom they directly address. Such letters are issued in response to specific questions posed by specific tax payers.
Retaining foreigners under contract for performing jobs or rendering services does not increase an organization’s tax burden if such work or services are performed outside Russia.
According to Russia’s Ministry of Finance, the taxpayer is not obliged to declare interest (within 9%) from bank accounts located outside Russia as income.
The Ministry of Economic Development and Trade published on its website a statement of intent to radically reshape regulations for corporations.
The Ministry of Finance will soon consider using taxes to deter Russian banks from denominating debt in foreign currencies.
Companies will need to transfer insurance contributions according to the new rules by February 15.
The Constitutional Court of the RF made a ruling for the first time regarding the constitutionality of case law in Russia.
At the end of 2009, legislation was passed loosening restrictions on debt restructuring in a company’s charter capital. More specifically, as of 2010, company shareholders or third parties can make monetary claims on the charter capital of an OOO. This decision must be passed by all company shareholders unanimously. Likewise, additional shares of a joint-stock company (AO) may be paid with claims if those shares are sold in a private offering.
Russia’s Ministry of Finance has withdrawn its letter which allowed tax authorities to levy taxes on property.