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Doing business in Russia 2017
The past few years have seriously changed the business environment in Russia, especially in terms of taxation. Tax governance is becoming increasingly consistent with international approaches, integrating the country’s fiscal system into the global tax framework.
The legislative and regulatory efforts are meant to improve stability and predictability, making the investment climate milder and the business environment more attractive for all players.
Following the international BEPS prevention activities and in a bid to ensure the fair distribution of VAT between jurisdictions, Russian legislators introduced VAT for e-services rendered by foreign providers to Russian consumers.
Thin capitalisation and transfer pricing rules have been reexamined and redefined, eliminating some tax loopholes while easing up the excessive, economically unjustified regulatory restrictions.
As far as global best practices, environmental protection has never been so high on the Russian business agenda. Massive changes made to the environmental legislation encourage the companies to take on a greater social responsibility and to improve their waste management practices. A wellthought system of environmental duties is now in place to incentivise greener behaviours.
If this is your first time with Doing Business in Russia, you will find it a useful companion and supportive guide throughout your journey in the Russian business terrain.
If you have followed our reports for a while now, you will appreciate the updates, highlighting the most important changes, presented in the familiar format.
Enjoy your reading!