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The RF State Duma approved in the third reading the amendments to the RF Tax Code CFC rules.
DATE: February 17, 2016 | AUTHOR: atlawyers
The RF State Duma approved in the third reading the amendments to the RF Tax Code CFC rules. The Bill establishes in more detail rules how CFCs profit is determined and procedure of recognition of taxpayers as controlling persons. The deadlines for filing a notification on participation in a CFC and on termination of such participation are to be prolonged from 1 to 3 months. The Bill will also increase the term for liquidation of CFCs to 01.01.2018; in this case, the taxpayer will not pay any tax on the assets received from the liquidation.