Effective from April 1, 2024, it is no longer required to submit documents to the bank with respect to foreign trade transactions, the value of which does not exceed RUB 1 million.

The Bank of Russia has published new Clarifications No. 1-OP dated March 22, 2024 on the procedure for applying Decree No. 95 of the Russian President dated March 5, 2022.

Decision No. ПРГ-12-3/534 of the Working Group of the Bank of Russia dated March 6, 2024 has revised the conditions, on which Russian residents may, without individual authorizations from the Bank of Russia…

On February 26, 2024, Federal Law No. 39-FZ was published that has changed the time limit for ordering a tax audit of transfer prices.
The Law has amended Article 105.17(2) of the Russian Tax Code by dropping the restriction whereby a decision to order an audit of transfer prices may be made within two (2) years after the date on which the Russian Federal Tax Services receives notice from a taxpayer, or notification from a territorial tax authority, of controlled transactions.

Some significant changes in the regulation of transfer pricing came into effect on January 1, 2024.

New notice forms are to be used for foreign employees starting from January 1, 2024.

Amendments to Federal Law No. 115-FZ dated July 25, 2022 On the Legal Status of Foreign Citizens in the Russian Federation will take effect on March 1, 2024.
According to these amendments, the minimum salary of a highly qualified specialist will be at least RUB 750,000 a quarter effective March 1, 2024. It is RUB 167,000 a month today.

Please be informed that on September 29, 2023, a draft law was introduced to the Russian parliament, exempting from withholding tax in Russia certain types of income derived by foreign entities that are residents of the states, with which Russia has suspended a double tax treaty (DTT).

Published on July 31, 2023, Law No. 389-FZ has introduced extensive changes to the Russian Tax Code. Forte Tax & Law specialists have played an active role in preparing the Law.

On August 8th, 2023, the Russian President issued Decree No. 585, which suspends key provisions of several double tax treaties. Below, you will find comprehensive details about the suspended agreements and their implications.