Country News

The special regulation approved by the Ministry of Finance for transactions with offshore jurisdictions will have a number of implications in the area of compliance, notification procedures, relations with companies and preparation of justifications.

The new law raises the minimum salary for foreign highly qualified specialists, regulates the timeframe for issuing work permits and regulates other important aspects of HQS labour activity in Russia.

New presidential decree institutionalises the possibility of temporary management of assets of persons from "unfriendly" countries.

A new initiative by Russia's foreign and finance ministries to suspend double tax treaties with "unfriendly" countries might affect preferential rates and exemptions.

In December 2022 the Subcomission of the Government Commission for Control of Foreign Investments in the Russian Federation  has issued a protocol determining important criteria of approval of transactions with regard to Russian legal entities controlled by persons from “non-friendly countries”.