Special report: Tax and Russia

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Current developments in tax

• The Russian government is pursuing a ‘de-offshorisation’ initiative and making numerous changes to legislation to raise revenue for the government including the introduction of ‘luxury taxes’ on the wealthy.
• There are recent changes to the Russian court system.
• For multinationals doing business in Russia securing deductions for charges from foreign affiliates is a perennial concern.

While all eyes have been on Russia recently with the 2014 Winter Olympics in Sochi and now the growing crisis with Ukraine less well reported is the number of ongoing Russian tax trends and changes affecting businesses that the government has pushed through in recent years writes Santhie Goundar.

As Artem Toropov a senior associate in international tax at Goltsblat BLP (the Russian practice of Berwin Leighton Paisner) says businesses operating in Russia ‘should keep track of rapid developments better than ever ...