On Wednesday, May 20, 2015, RF State Duma passed in its second reading a capital amnesty bill (Bill “On voluntary declaration of property and bank accounts (deposits) by the individuals”).


On April 30, 2015, the Federal Tax Service of RF explained on its official website that currently the individuals – residents of RF are not liable of submitting cash flow statements for their bank accounts outside the territory of the Russian Federation since no form of such statement and the related submission procedure in respect of the individuals has yet been approved.    

It should be noted that such form and the related submission procedure in respect of the legal entities have already been in place and governed by the RF Government Decree No.819 as of 28.12.2005.   


A governmental bill on capital amnesty was brought to the State Duma on March 27, 2015. According to Anton Siluanov, RF Minister of Finance, the assets subject to declaration within the scope of capital amnesty shall be exempt from nonrecurring taxes, duties and charges.


On the 24th of February 2015 the Seychelles has become the 85th member-participant to join the Convention on Mutual Administrative Assistance in Tax Matters.     


On the 27th of January 2015 dramatic changes have been introduced to EU Council Directive “On the system of taxation as applicable to parent and subsidiary companies located in different EU Member States”. 


According to preliminary estimates of the Central Bank of Russia, in the year 2014 the aggregate net capital outflow from RF has 2.5 times increased as compared to the year 2013 while reaching a point of 151.5 billion USD.


Dear Clients and Partners,

please note that due to celebration of New Year 2015 and Orthodox Christmas our offices will be closed from 31 December 2014 till 11 January 2015 (inclusive). 

12 January 2015 is the first working day.



Russia’s government plans to ban government and municipal contracts for offshore-registered companies, Prime Minister Dmitry Medvedev said at the cabinet meeting on December 25.


On 18 Dec 2014 the Parliament of Luxembourg has informed the European Commission on its commitment to give information on tax transactions made with international corporations as well as on current tax rules and benefits.


Changes to Switzerland's value-added tax rules will come into effect from January 1, 2015, through changes to the Value-Added Tax Ordinance.

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