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On 03.04.2015 OECD published a draft of Action plan, which toughen rules on controlled foreign companies (CFC).
DATE: April 13, 2015 | AUTHOR: atlawyers
On 03.04.2015 OECD published a draft of Action plan, which toughen rules on controlled foreign companies (CFC). In particular, the draft proposes to extend the rules on CFC to trusts and foundations. Some provisions of the Russian legislation on CFC are more liberal than the OECD recommendations. For example, CFC profits under the RF laws may in certain cases be determined in accordance with the financial statements of the state where the CFC is registered. The OECD proposes to use the rules of the beneficiary state.