Global

Details

  • Service: Tax, International Corporate Tax, Global Indirect Tax, International Executive Services, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 7/3/2012

Russia - Tax policy proposals for 2013-2015 

July 3:  The Russian government has approved a proposal of key tax policy items for 2013 and the planning period 2014-2015.

Among the items in the proposal are measures that would:


  • Introduce the concept of corporate tax residency
  • Define a controlled foreign company (CFC)
  • Amend the rules concerning tax controversy disputes
  • Impose new reporting requirements on financial institutions
  • Amend the value added tax (VAT) rules for professional participants in the securities market
  • Require Russian companies to include foreign affiliates in their tax returns
  • Clarify the rules for depreciation recapture
  • Aim for the convergence of financial accounting and tax accounting rules
  • Amend the rules for losses on transactions involving “forward” financial instruments
  • Introduce a mechanism for taxing flammable natural gas produced / extracted from coal deposits

There are other proposals concerning property tax, excise tax, and individual income tax.


Read a May 2012 report [PDF 330 KB] prepared by the KPMG member firm in Russia: Key tax policy trends to 2015 approved




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