Prospects, comments, solutions
ProsperoScope is a newsletter of Deloitte’s Private Client Service team. This newsletter presents recent and upcoming changes in Russian and international tax legislation, and information about trends and interesting developments in the private client world.
It is not intended to be a comprehensive statement of the law. We accept no liability for the completeness and accuracy of information contained in the newsletter or for any decisions made by you after reading the newsletter without additional professional consultation.
24 June 2021
Personal trusts: preserving capital for future generations
Starting from 1 March 2022, individuals will be able to establish living personal trusts.
Why is it important?
The creation of a personal trust can serve various purposes:
- to effectively manage one’s assets
- to create a financial legacy for years to come
- to secure uninterrupted business operation after one’s death
- to ensure succession.
15 February 2021
Anticipated clamp down on personal taxes
This issue highlights the latest initiatives aimed at strengthening the fiscal control over individuals.
The initiatives are:
- to establish a specialised tax inspectorate for high-net-worth individuals
- to introduce amendments to the Russian Tax Code, obliging banks to report to the Russian tax authorities full account holder information
- to toughen up criminal sanctions for individual tax offenders.