Amendments to tax monitoring, reviewing double taxation treaties, new shareholders’ meeting deadline
In February, the Russian Government approved a concept of amendments to tax monitoring system. According to the new concept, it is not only planned to decrease the thresholds for voluntary participation of companies in the Monitoring System, but also to facilitate the taxation procedures. Click on the button below in order to find out more.
In April, the Russian Ministry of Finance sent a proposal to the Ministries of Finance of Cyprus, Malta, and Luxembourg to revise the provisions of the double taxation agreements between Russia and these countries. In particular, it is proposed to set the rate of withholding tax on profits of foreign organizations on interest and dividends at 15%. In case this proposal is ratified, business headquartered in the mentioned European countries may face an increased tax burden. Click on the button below to find out more.
| Russia has begun the process of reviewing its Double Taxation Treaties |
Also the term of holding the regular (annual) shareholders meetings for Russian LLC’s in 2020 is extended until September 30. Normally such meetings should be held by 30 April. Click on the button below.