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Russian Ministry of Finance significantly expands list of offshore and non-cooperative jurisdictions for tax purposes
The Russian Ministry of Finance has revised the list of states and territories that (i) provide preferential tax treatment and/or (ii) do not disclose or provide information on financial transactions. The updated List was introduced by Order No. 86n of the Ministry of Finance dated 5 June 2023 and entered into force on 1 July this year.
Russian government introduces changes to personal trust taxation
The Government has introduced another round of sweeping changes to taxation laws (Draft Law No.
VAT on royalties: overview of current enforcement trends
In this legal update, our team addresses current trends in the development of court cases related to charging agency VAT additionally on the customs value of goods, and gives recommendations regarding the mitigation of the related risks.
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.
Denuo tops 2022 Kommersant rating
Denuo received 24 firm ratings in the 2022 Legal Market Leaders guide. The ratings are based on multistage research by Kommersant, Russia’s leading publishing house.
New income taxation procedure for purchasing work or services from interdependent foreign entities
On 27 November 2023, the President of the Russian Federation signed Federal Law No. 539-FZ intoroducing significant changes to the Russian Tax Code, including amendments providing that, with effect from 1 January 2024, the remuneration for the work or services performed by interdependent foreign entities to Russian taxpayers shall be subject to the Russian withholding tax at a rate of 15%. Read further in our legal update.