Law on taxation of foreign companies signed

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Law on taxation of foreign companies signed

27 November 2014

On 24 November 2014, Federal Law № 376-FZ “On amending Parts I and II of the Russian Federation Tax Code (in respect of taxation of the profits of controlled foreign companies)” (hereinafter - the "Law") was signed by the President of the Russian Federation.

This Law, which will enter into force as of 1 January 2015, will introduce in the legislation a package of measures aimed at ensuring a "deoffshorisation" of the Russian economy and, as such, new rules regarding the taxation of income derived by foreign companies. 

Law on taxation of foreign companies signed

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