Authorities plan to raise the corporate income tax rate for personal foundations from 15% to 22%. Although this change aligns with the increase in personal income tax (PIT) on substantial passive income, the appeal of personal foundations will diminish.
Read more about the tax changes for personal foundations in a commentary by Andrey Gusev, Senior Partner at Nordic Star, for RBC (subscription required).
Andrei Gusev
Senior Partner, Attorney-at-Law
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St. Petersburg, Barcelona, Almaty