Media & Resources
According to media reports, the RF Ministry of Finance is planning to harmonise statutory residency test for currency control legislation with the residency test set by the tax legislation.
DATE: June 3, 2016 | AUTHOR: atlawyers
According to media reports, the RF Ministry of Finance is planning to harmonise statutory residency test for currency control legislation with the residency test set by the tax legislation. In accordance with current currency control legislation the RF citizens who have spent in the RF at least one day during preceding 12 months shall be considered residents for currency control purposes. According to the proposed amendments those who spend at least 183 days in each calendar year in Russia become currency residents.