Media & Resources
State Duma adopted in the first hearing CFC bill.
DATE: November 13, 2014 | AUTHOR: atlawyers
State Duma adopted in the first hearing CFC bill. The Bill introduces controlled foreign companies taxation rules to RF Tax code, defines the concept and the criteria for the recognition of foreign entities as “controlled foreign companies”, “controlling person” and cases where a CFC’s profit is not subject to taxation. The Bill sets forth an obligation for RF tax residents to notify tax authorities of their participation in foreign entities and to pay income tax (PIT) from CFC profit, if they are recognized as “controlling persons”.
Please find the Bill here.