On February 17, 2025, the Russian Federation (“Russia”) and the United Arab Emirates (“UAE”) signed an Agreement for the Elimination of Double Taxation on Income and Capital and the Prevention of Tax Avoidance (“Agreement”). While the signed Agreement has not yet been published, its significant terms are outlined in the Order of the Government of […]
Russia and UAE Sign Agreement to Avoid Double Taxation Read More »
On January 21, 2025, the Constitutional Court of the Russian Federation (the “Court“) issued Ruling No. 2-P (the “Ruling”), declaring certain provisions of the Russian Tax Code (the “Tax Code”) as unconstitutional. The disputed provisions related to the taxation of companies under the simplified tax system (“STS”) when transferring assets to former shareholders as compensation
The Russian Ministry of Justice has prepared a draft law to formalize procedures for compensating damages caused to Russia or the Central Bank of Russia by the actions committed by authorities of “unfriendly” states. The proposal, coordinated with relevant ministries, is pending review by the Government Commission on Legislative Activities. Background On 23 May 2024,
Russia drafts law on confiscating “Unfriendly” assets Read More »
On 17 December 2024, amendments came into effect regarding the rules for obtaining permits from the Governmental Commission for Control over Foreign Investments (“Commission“). These amendments pertain to the fulfillment by Russian residents of obligations under loans, credits, financial instruments, as well as the payment of dividends (profits) to “unfriendly” non-residents. Key Changes Context of
The European Council, as part of its 15th sanctions package, has introduced a ban on recognizing and enforcing decisions by Russian courts that affect European companies, referencing Article 248.1 of the Russian Arbitration Procedure Code. This measure is aimed at shielding European businesses from legal obstacles arising from disputes with Russian counterparties. The EU justified
EU Prohibits Recognition and Enforcement of Russian Court Decisions Read More »
On 2 December 2024, the President of the Russian Federation approved the Government’s proposal to sign an agreement between the Russian Federation and the Republic of Belarus on the procedure for mutual enforcement of judicial decisions (hereinafter referred to as the “Agreement”). The Agreement applies to court decisions in civil cases as well as criminal
On November 30, 2024, the President signed laws on amendments to the Code of Administrative Offenses (CAO) and the Criminal Code (CC)[1], establishing liability for violations in the field of personal data processing. Administrative liability According to the above-mentioned law, increased administrative fines for violations in the field of personal data processing (PD) will take
Tougher liability for violations in the processing of personal data Read More »
China is a country where artificial intelligence (AI) is rapidly developing and widely used in different spheres. The size of Chinese AI market is expected to reach more than 34 billion USA dollars by the end of 2024. China goes second after the USA in the ranking of top 20 AI countries (countries with the
AI in China: legal regulation and court rulings Read More »
The Federation Council recently approved a draft law providing for a new form of tax amnesty for companies using a split-up scheme. This new development is aimed at simplifying tax obligations and allowing entrepreneurs to correct past mistakes without serious financial and legal consequences. What is splitting a business? Business fragmentation is a common practice
An amnesty on splitting a business: new opportunities for entrepreneurs Read More »
A draft law has been submitted to the State Duma, according to which the distribution of advertising on a number of resources will be prohibited. Amendments are planned to be made to Articles 12 of Law No. 114-FZ “On Countering Extremist Activities”, as well as to Articles 5 and 38 of Law No. 38-FZ “On
