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Taxation of controlled foreign companies in Russia

Luxembourg, Luxembourg

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Past event
07 June 2016, 08:30 - 11:00

The use of foreign corporate and private wealth structures by Russian companies and individuals – including structures involving Luxembourg - has been extremely popular in the past.

But further to the introduction from 1 January 2015 of the controlled foreign companies (CFC) rules into the Russian tax legislation – as part of a package of so-called ‘deoffshorisation’ amendments- Russian tax residents (individuals and companies) are now required to disclose their foreign ownership and to pay tax on profits generated by CFCs (even though such profits are undistributed to Russia). This heavily impacts their existing structures from the financial, tax and confidentiality perspectives. And for many, there will likely be a combination of compliance to the new rules with a restructuring and rationalization of foreign structures to try and fall outside the new regime or at least limit its adverse consequences. Of course, there is no standard answer and much depends on the specifics of each particular business case

As part of this event we will present the key features of the newly enacted CFC rules and share our practical experience and expertise on possible options opened for risks mitigations and opportunities notably through a review of various business cases.

This conference is organized in collaboration with the Luxembourg-Russia Business Chamber.

Language: English