Country News

Due to the recent changes in the legislation on the registration of military eligible people and in the Code of Administrative Offences of the Russian Federation, employers are imposed some obligations to continue the registration formalities in the companies of the employees who are eligible for military service.

The new amendments to the Tax Code of the Russian Federation implement the main provisions of the tax policy of the Ministry of Finance for 2024-2026 and affect, among other areas, VAT, personal income tax and profit tax.

On 4 August 2023, the President of the Russian Federation signed Federal Law No. 414-FZ "On Excess Profits Tax". Based on the Law, the legislator has the right to introduce the Windfall Tax as a one-time tax. Subject of the Windfall Tax are excess profits of businesses.

On 4 August, important amendments to the Federal Law No. 281-FZ "On Special Economic Measures and Coercive Measures" (hereinafter - the "Special Measures Law") were introduced. They will enter into force in February 2024.

On August 8, 2023, the President of the Russian Federation issued Decree No. 585 (“Decree”), which suspends the most important provisions of 38 Double Tax Treaties (“DTT Provisions”) with several unfriendly countries