Government Commission on legislative drafting activities has adopted transition of Russian organizations to International Financial Reporting Standards (IFRS)


The Central Bank of the Russian Federation has developed a method of dealing with the outflow of capital from Russia through fictitious imports from the Customs Union. Earlier monitoring of transactions was carried out by banks based on recommendations received from the Central Bank, but now requirements became tougher. Experts believe that such innovations will make capital outflows through such channels difficult for fraudsters.



On July 29, 2013 Panamanian Congress has finally approved the law which imposes a safekeeping regime on bearer shares.


UK government published “Transparency and trust: enhancing the transparency of UK company ownership and increasing trust in UK business - discussion paper” which sets out a range of proposals to enhance the transparency of UK company ownership and increase trust in UK business.


Vladimir Putin has signed the Federal Law "On Amendments to parts one and two of the Tax Code of the Russian Federation and to certain other legislative acts of the Russian Federation, and the repealing of certain provisions of legislative acts of the Russian Federation".


4 July 2013 Ukrainian Parliament has ratified agreement for the avoidance of double taxation and preventing income tax evasion and its protocol with Cyprus. 


Dear Clients and Partners,

please note that our Moscow and St.Petersburg offices will be closed on 12 June 2013 due to the Public holiday in the Russian Federation - Day of Russia.


Liberal Democratic Party of Russia (LDPR) members introduces the anti-offshore proposal in the State Duma offering to fight deoffshorization of Russian business with radical administrative measures.


The State Duma adopted in the second reading the draft bill "On amendments to some legislative acts of the Russian Federation in terms of combating illegal financial transactions," which, according to experts, can greatly complicate the life of  businessmen, the newspaper "Kommersant" said.


The State Duma of the Federal Assembly of the Russian Federation has ratified agreement signed in Abu Dhabi on December 7, 2011 between the Russian Federation and the United Arab Emirates for the avoidance of double taxation of investments of both states and their financial and investment organizations.

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