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INTAX EXPO is one of the world`s biggest conference and exhibition for practitioners in spheres of corporate finance, residence & citizenship, estate planning and international tax structuring.
The Russian law on "tax repatriation" has been signed by the Russian President and will come into force from 2015.
This new law will occur the following obligations:
1. Russian individuals who legally keep control over foreign structures, including non-corporate, will have to disclose that to the Russian tax authorities
2. Any profits received by foreign structures controlled from Russia will be taxed in Russia.
On January 31, 2014 the new Regulation #408-P of the Central Bank of Russia came into force.
By these regulation a new procedure established for the Central Bank to approve candidates for management positions at credit organizations and to attest to the business reputation of Board members and shareholders holding more that 10 % of the shares of a credit organization.
BBNP has started a cooperation with POLPHARMA. BBNP lawyers to consult on Russian and CIS countries law.
Please be advised that the Fifth Decree on the Enforcement of Restrictive Measures on Transactions has been issued on April 5, 2013.

The following amendments have been made to Section 3 (c) on page 2 of the Decree:
The full text of the announcement of the EUROGROUP is provided here
The House of Parliament of Cyprus has convened in a special meeting yesterday to decide on the controversial "bail-in" plan proposed by the Eurogroup.
The lengthy negotiations between the Cyprus Government and the Eurogroup have reached a political agreement in the early hours of this morning on the key measures that need to be taken to ensure the stability of the Banking and Financial sector in Cyprus.

The Cyprus Government has agreed today to carry out a number of fiscal measures and structural reforms to support the country’s competitiveness and aim for a sustainable and balanced growth, correcting at the same time a number of macroeconomic imbalances. This agreement will be put before Parliament for approval before Tuesday, 19 March 2013.
During the negotiations regarding accession of the Russian Federation to the World Trade Organization, Russia took an obligation to cancel the reservation made by it when it was acceding to the Berne Convention for the Protection of Literary and Artistic Works of September 9, 1886.
The respective order was issued by the Ministry of Foreign Affairs of the Russian Federation on December 11, 2012.
The Protocol of ratification of the Agreement between the Swiss Confederation and the Russian Federation for the Avoidance of Double Taxation with Respect to Taxes on Income and on Capital, signed in Moscow, will come into effect in January 2013.

Let us note, however, that there are both positive and negative aspects of it.
Taxation will change.
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