The global drive towards decarbonization of the global economy plays an increasingly significant role in Russia’s strategy for development of its energy and other carbon intensive industries. It has its own renewables, energy efficiency and environmental programs, develops national carbon laws and has major plans for hydrogen. In particular, Russia intends…
The pandemic has impacted our lives in many ways, but for many of us, one of the most…
Baker McKenzie’s newest report, Russia: Corporate Anti-Corruption Enforcement Trends, aims to provide both international companies operating in Russia and…
New amendments to the Russian Tax Code1 (“Law”) will allow individuals to reduce the Russian individual income tax on profit distributions from foreign companies and unincorporated vehicles (e.g., trusts) sourced from dividends originally paid by Russian companies that are subject to Russian withholding tax (“indirect tax credit”).
The Law eliminates the existing double taxation and economically equates ownership of Russian assets via Russian and foreign companies (trusts). At the same time, the Law eliminates the 0% tax rate previously available for Russian companies on dividends received through intermediary foreign companies that are not beneficial owners of income. This will allow, for example, the application of the 15% Russian withholding tax rate on dividends paid to Cypriot and Luxembourg intermediary companies under the recently amended tax treaties. Some historic holding structures will get a deferral; for them the new rules will apply as of 2024.
On 1 December 2020, the Luxembourg tax authorities issued Circular L.I.R. n° 147/2, 166/2 et Eval. n° 63 (“Circular”) regarding non-eligibility of Gibraltar companies for the provisions of Directive 2011/96/EU (parent-subsidiary directive).
On 1 January 2021, new rules on remote work come into force.1 Introduced as amendments to the Russian Labor Code, the new rules define various categories of remote work, and establish a number of new rights and responsibilities for both employers and employees regarding remote work.
As of 17 September 2020, the government has cancelled all pre-scheduled inspections of legal entities for consumers rights violations.
This document summarizes the statutory requirements on the exportation of dual-use items from Russia, and does not contain information on the exportation of military items.
This features frequently asked questions on importation and local use of encryption-based products in Russia and the Eurasian Economic Union.
This document summarizes the statutory requirements on the exportation of dual-use items from Russia, and does not contain information on the exportation of military items.