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.

We would like to inform you that the draft law increasing fines for employers for failure to perform military registration duties has been adopted in the form that we discussed in our previous alert and will take effect October 1, 2023.

The Russian State Duma is now considering amendments to the Russian Code of Administrative Offenses. The amendments provide for a significant increase in the fines for failure to perform the military registration duties.

On July 12, 2023, the new minutes of a meeting of the Russian Government Commission regarding the rules for obtaining authorizations for closing transactions in interests or shares and paying dividends were published on the website of the Russian Ministry of Finance.

On July 11, 2023, the German-Russian Chamber of Commerce (AHK Russland) held a seminar ‘Entering New Markets: Experience of Thailand, Kazakhstan, and countries of the Persian Gulf’ at which Mikhail Borodin, Counsel at Forte Tax & Law, talked about doing business in Thailand.

We would like to inform you of the latest developments regarding obtaining approvals from the Government Commission for Control over Foreign Investments in the Russian Federation for the sale of companies in Russia.

A new draft law on changes to Russian migration laws is about to be adopted. The key changes will affect highly qualified specialists (HQSs).

A new list of states and territories that provide preferential tax treatment and/or do not require the disclosure and provision of information when financial transactions are conducted (“offshore zones”) will take effect on July 1, 2023.

A new law will take effect on July 1, 2023, enabling companies to cease operations in Russia according to a simplified procedure.