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.


On 16 Dec 2014 European Parliament and European Council agreed on the fourth anti-money laundering directive due to which EU member states will be obliged to maintain central registers listing information on the ultimate beneficial owners of corporate and other legal entities, as well as trusts.


On 12 December 2014 deputies of the RF State Duma adopted in the third reading the draft federal law #552755-6 “On Amendments to Certain Legislative Acts of the Russian Federation on combating corruption.”


On 4 December 2014 the British Virgin Islands Financial Services Commission announced that it can now issue electronic certificates of Good Standing.



Russia’s President Vladimir Putin in his annual address to the Federal Assembly has proposed a one-off exemption from tax and criminal liability for Russian individuals and businesses provided they return to the country the capital previously moved out in foreign jurisdictions without payment of applicable withholding taxes in the RF.

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