A Review of the Taxation Regulatory Documents Adopted in February-March 2015

Abstract

Russia’s government began to implement its anticrisis plan for 2015 by adopting specifi c documents in the period under review. Despite its pro-market rhetorical statements, the government has so far taken no substantial steps towards economic reforms and enhancing the business environment in the country. At a meeting with representatives of the Russian Union of Industrialists and Entrepreneurs (RSPP), President Putin warned the businessmen that their assets in foreign jurisdictions might be frozen; confi rmed the federal government’s endeavor to grant an amnesty to the capital returned to Russia; and agreed with the RSPP point of view on the need to synchronize the coming into eff ect of a capital amnesty bill with the Tax Code provisions concerning the taxation of the income of controlled foreign corporations (CFCs) and the submission of respective notifications to Russia’s tax authorities. A document, which invites some questions, concerning draft amendments to the Federal Budget Law for 2015 and the Planning Period of 2016–2017 was submitted to the State Duma for consideration.