On March 27, 2023, the Government Commission for Control over Foreign Investment in the Russian Federation (further the Commission) published an extract from the minutes of its meeting of March 2, 2023, No. 143/4, which revised the conditions for granting permits for transactions aimed at disposing of shares/stocks by foreign participants/shareholders from so-called “unfriendly” countries.

The Russian Tax Code has been amended to exempt interest forgiven by a foreign lender from corporate income tax.

On October 15, 2022, the Russian President signed Decree No. 737 establishing new rules for Russian residents making certain cash distributions to non-Russian residents and entering into transactions with respect to shares in joint-stock companies.

On September 8, 2022, the Russian President signed a decree , establishing a procedure for entering into transactions in shares in limited liability companies (LLC/OOO).

In July 2022, a law was adopted to make changes to the previous fingerprinting, photographing, and medical examination procedures and other migration rules.

On July 5, 2022, the State Duma of the Russian Federation passed Bill No. 136059-8 in the third reading. In addition to the amendments made to the regulation of personal income tax, excises, and severance tax, we would like to draw your attention to the changes in the regulation of VAT on digital services.

A bill that provides for criminal liability for compliance with the sanctions imposed against Russia and envisages a prison term of up to 10 years has been introduced to the Russian Parliament.

This is to remind you that foreign nationals with the status of highly qualified specialists (HQS) and their family members must, among other things, obtain an entry permit to enter Russia through land borders.

Tverskoy District Court in Moscow ruled on March 22, 2022 that Meta Platforms Inc. (Facebook, Instagram) are extremist organizations in Russia.

A Presidential Decree providing for new restrictions on cash transactions was issued on March 18, 2022.