A special recording procedure for certain securities will be in effect until the end of 2025
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12.08.2024
SOME RESIDENT PARTICIPANTS IN AN INTERNATIONAL GROUP OF COMPANIES MAY NOT PROVIDE INFORMATION ON NON-RESIDENTS’ ACCOUNTS TO TAX AUTHORITIES: RULES AND CASES TO BE ESTABLISHED
In accordance with a draft decision of the RF Government, in certain cases, residents included in the same international group of companies with non-residents will be released from an obligation to submit to the tax authorities at the place of their registration notifications about the opening (closing) of accounts (deposits) and about changes in the details of accounts (deposits) of such non-residents with banks or other financial market institutions located abroad.
Three such cases to be established:
- if more than 50% of the assets of the international group of companies are located outside of Russia;
- if a resident does not participate in the capital or otherwise control non-residents that are part of the same international group of companies;
- if aforementioned non-residents do not participate in the capital of the resident or otherwise control its activities.
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