Industry News

Draft law on anti-offshore measures passed in Russia

Riga, Latvia, November 19, 2014, 15:00 / Industry News / Jurisdiction: Russian Federation

On Tuesday, in the second and third readings, the Russian State Duma passed the draft law on anti-offshore measures, which determines taxation rules for controlled foreign company (hereinafter — CFC) and foreign organizations. A new mechanism makes Russian residents, both companies and individuals, to pay taxes on retained earnings from their foreign assets. The target is so-called “purses” where dividends and interest on loans are being accumulated.

Disclosing dual citizenship or foreign residency permit by Russian citizens

Riga, Latvia, October 24, 2014, 13:00 / Industry News / Jurisdiction: Russian Federation

On 4 June 2014, the president Vladimir Putin signed Federal Law on Russian Federation Citizenship and legislative acts requiring Russian citizens with foreign passports to report their second citizenship or foreign residency permit to the Federal Migration Service (FMS) with the announced deadline of 2 October 2014.

BEPS Approaches Key Milestone

Riga, Latvia, September 17, 2014, 10:00 / Industry News / Jurisdiction: OECD

On July 3, 2014, New Zealand’s Revenue Minister Todd McClay revealed that the OECD has agreed the final recommendations for the first set of actions to tackle base erosion and profit shifting (BEPS) by multinational enterprises, which are due to be finalised in September. So as the BEPS project approaches a crucial juncture, this feature summarises key developments in its brief history.

Citizenship in Malta

Riga, Latvia, July 8, 2014, 15:00 / Industry News

Since February 2014, the Republic of Malta has started the citizenship programme by investment for foreigners. Today, this programme is the only official EU programme that allows obtaining citizenship within such a short period of time — 6 to 24 months.

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