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Denuo’s team leads Russia’s M&A for seventh consecutive year
For the seventh consecutive year, Denuo’s team has been recognised as the highest-ranked legal advisor in Russia for M&A deal count, according to Mergers.ru league tables.
Denuo assisted Yandex in its acquisition of eLama, an advertising technology platform
Thanks to the deal, Yandex is purchasing not only a technology platform, but an experienced team of eLama’s professionals who will contribute to the further development of the platform service.
Denuo advises Smart Service on acquisition of KFC business in Russia
Denuo has advised Smart Service, a Russian operator led by Konstantin Kotov and Andrey Oskolkov, on the acquisition of KFC’s business in Russia from Yum! Brands, a US fast food corporation. Mr Kotov and Mr Oskolkov already own Food Service, a Russian operator of more than 40 KFC franchise restaurants.
Partial “lifting” of the suspension of certain provisions of international tax treaties
The August Decree of the Russian President suspended certain provisions of tax treaties between the Russian Federation and 38 countries (“DDT”). The Russian Government has outlined measures to reduce the impact of the DTTs suspension on the Russian economy. In particular, it was suggested that an exemption from or a reduced corporate profits tax rate be established for certain types of income paid to those foreign companies that have previously been subject to an exemption from withholding taxation or a reduced withholding tax rate. Read further in our legal update.
Significantly tougher control over transfer pricing in Russia
On 27 November 2023, the President of the Russian Federation signed Federal Law No. 539 introducing critical amendments to the Tax Code of the Russian Federation, including multiple revisions to Russian transfer pricing rules. Read further about these important changes in our legal update.