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The main provisions of letter No. Kch-4-18/9242@ of the Russian Federal Tax Service dated 20 July 2023 regarding the order in which tax obligations should be performed when debtors’ assets are sold during receivership proceedings.

The requirement to ensure adequate substance for taxation purposes appeared in article 18(1)(a) of the Corporate Tax Law. It stipulates that taxpayers in the UAE’s free zones which “maintain adequate substance” in the UAE may apply a 0% tax rate to qualifying income.

On 1 October 2023 amendments to Federal Law No. 103-FZ “On activities carried out by payment agents involving the receipt of payment from individuals” came into force.

The Russian Constitutional Court has adopted a Resolution aimed at eliminating contradictions between arbitral tribunals and state courts regarding the arbitrability of disputes in the area of real estate.

The Federal Tax Service has approved an application form (form р19001) for the “simplified liquidation” of some small or medium entrepreneurs.

Article (20)(5)(a) of the Corporate Tax Law  authorizes the MoF to ‘prescribe … the circumstances and conditions under which a Person may prepare financial statements using the cash basis of accounting’. On May 9, 2023 the MoF exercised this authority in Decision No. 114 allowing to ‘prepare Financial Statements using the Cash Basis of Accounting, in any of the following instances: 1. Where the Person derives Revenue that does not exceed AED 3,000,000. 2. In exceptional circumstances and pursuant to an application submitted by the Person to the Authority’. What else do we know about this cash method?