Baker McKenzie’s Sanctions Blog published the alert titled Russian tax authorities recommend withholding VAT on B2B e-services in light of sanctions on 6 April 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On 1 July 2021, Russia adopted a paradigm-shifting law that establishes, among other things, new physical presence requirements for major foreign technology companies doing business in the Russian Internet space. Affected technology companies are required to open either a representative office, a branch, or a subsidiary in Russia. This article provides a brief overview of this radical regulatory development and its Russian tax implications, reviews the compliance alternatives, and suggests means to mitigate the associated tax risks.
On 1 July 2021, President Putin signed one of the most significant bills of 2021 in Russia and in doing so turned Russian IT regulation on its head. The “Landing Law”, which regulates the activity of foreign IT entities in Russia, marks a new trend in the regulation of information technology in Russia.
The main development is that under the new law foreign information technology companies will be required to establish a physical presence in Russia.
Foreign Internet sites, web-pages, information systems and programs aimed at Russian audiences may be required to open local offices in accordance with a draft law being considered by the Russian parliament
Welcome to our first quarter issue of the Private Wealth Newsletter. Our featured insight for this issue is a discussion of the passage of the Corporate Transparency Act by the United States to introduce federally-mandated beneficial ownership reporting obligations for US corporations and limited liability companies. We also include insights…
In brief Baker McKenzie’s VAT/Indirect Tax Practice presented “VAT Around the World Pt. 1” on 18 November 2020. This was the sixth presentation in the International VAT Conference Webinar Series, a global webinar series designed for VAT specialists from all industry sectors that aims to discuss the latest developing trends…
On March 25th the Russian President announced the following steps in connection with the COVID-19 pandemic: March 30 to April 3 will be non-working days with salary retention; six months’ deferral on paying taxes (except for VAT) for small and medium enterprises (SMEs); the deferral also applies to social security…