Analytics and brochures
Pepeliaev Group advises that the Russian law on “tax repatriation”1 has been signed and will come into force from 2015. This new law may have the following implications:
- control by Russian persons over foreign structures, including non-corporate ones, will have to be disclosed to the Russian tax authorities; and
- profits received by foreign structures managed or controlled out of Russia will be taxed in Russia.
Pepeliaev Group advises that new requirements for the Russian Federation citizens' personal data to be kept in electronic form in Russia may be introduced as early as on 1 January 2015.
Pepeliaev Group advises that from 1 September 2016 personal data of the Russian Federation citizens may be kept in electronic form only in Russia. It is probable that this deadline will be shifted to an earlier date, i.e. 1 January 2015.
Amendments to ease the restrictions have been made to the list of foods banned from being imported into the Russian Federation. This may be treated as a circumstance that stops a force-majeure regime from applying and that restores the obligation of counterparties to perform theirt contractual obligations.
Pepeliaev Group advises you that the Russian Federal Law No. 218-FZ “On Amending Certain Legislative Acts of the Russian Federation” came into effect on August 2, 2014. The Law simplifies the procedure for foreign securities to be admitted to the Russian financial markets.
Pepeliaev Group advises that Russia's imposing retaliatory sanctions may be treated as a force-majeure event. Currency risks are possible.