Russia Tax News

Taxes worth $240.6 bln collected in H1 2023 in Russia

July 2023
Taxes collected in Russia in January - June 2023 amounted to 21.6 trillion rubles ($240.6 bln), Deputy Head of the Federal Tax Service Yulia Shepeleva said at the meeting with President Vladimir Putin.
The incremental growth during the first six months of the year totaled about 400 bln rubles ($4.45 bln) for insurance contributions and 105 bln rubles ($1.2 bln) for the individual income tax, Shepeleva noted.

Russia Luxembourg Tax Treaty

April 2021
The updated 2020 double tax treaty, DTA, between Russia and Luxembourg entered into force on March 5, 2021 applying from January 1, 2022.
According to the DTA the general tax withholding rate for payments of dividends is 15%.
In certain cases, subject to terms the withholding rate will be only 5%, inter alia, when the recipient has a shareholding of more than 15%.
The tax withholding rate for payment of interest is generally 15%.
In certain cases, subject to terms the rate is 5%.

Russia V.A.T. Rise

October 2018
Following a law which was passed by the Russian Duma in August the standard V.A.T. rate will rise starting January 1, 2019 from the current 18% rate to 20%. The reduced 10% V.A.T. rate will remain unchanged.

Russia Austria Tax Treaty

July 2018
Russia and Austria signed on June 5, 2018 a new protocol to the existing 2000 double tax treaty, DTA, between the two counties.
There will be no change on the tax withholding rates for payments of interest and royalties.
The tax withholding rates for payments of dividends will be 5% and 15%.

Russia Japan Tax Treaty

September 2017
Russia and Japan signed on September 7, 2017 a new double tax treaty, DTA, replacing the previous 1986 DTA.
According to the DTA the tax withholding rates will be 0%/5%/15% for payment of dividends, 0%/10% for payment of interest and zero withholding for payment of royalties.

Russia Czech Republic Social Security Agreement

October 2014
The social security agreement between the two countries will enter into force on November 1, 2014 replacing the previous 1959 social security agreement.
The agreement is aimed to avoid double social security payments for individuals working in the other country.
The agreement applies, inter alia, to sickness and maternity benefits, accident at work, pensions and death grants.

Russia Argentina DTA Entry into Force

November 2012
The double tax treaty, DTA, between Russia and Argentina regarding double taxation on income and capital entered into force on October 16, 2012 after being ratified before by both countries.
The DTA will generally effect taxes relating to income after January 1, 2013.

Russia's New Transfer Pricing Law

August 2011
Russia's new transfer pricing law has been signed by the Russian president.
The new law which includes major changes will enter into force on 1.1.2012, some provisions will enter into force in the years 2013- 2014.

Russia Tax Policy 2010

May 2010
Measures in the field of a tax policy, planned to realization in 2010 and in the scheduled period 2011 and 2012 modification in the legislation and specification is offered before the declared approaches to carrying out of tax reform concerning:
- Perfection of the tax control over use of the transfer prices;
- Creation of institute of the consolidated tax reporting;
- Perfection of the order of the accounting.
Besides it modification in the current legislation about taxes and tax collections in following directions is planned.

Income tax
In the scheduled period in chapter 23 of the Russian Tax Code is planned to make following changes:
  1. For simplification of work, connected with declaring incomes of tax payers, it is supposed to release from representation of the tax declaration of physical persons, at which tax obligations to the budget does not arise, however for realization of the right to clearing of the tax to incomes of physical persons (reception of a different sort of tax deductions) representation of the tax declaration is required.
    Also simplification of the order of filling of the tax declaration under the income tax is supposed, and not only due to changes in the legislation on taxes and tax collections, but also by the edition of more simple and clear instructions and recommendations for tax payers on its filling.
  2. Since 2008 chapter 23 of the Russian Tax Code establishes the limiting sizes of the daily income which are not taxable on income tax . That specified limiting sizes will be corresponded to a current economic situation and a rouble exchange rate to the basic world currencies.
  3. Within the concept of creation in The Russian Federation the international financial center is supposed to bring a lot of changes in the legislation on taxes and tax collections regarding payment of the tax on incomes of physical persons, directed on optimization of the order of the taxation of physical persons at fulfilment of operations by them with securities and financial tools of urgent transactions.
  4. Work on specification in the legislative order of the list of the incomes released from the taxation, established will be continued by clause 217 of the Russian Tax Code.
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Russia Insurance Contributions 2010

February 2010
From 1.1.2010 the new federal law on insurance contributions came into force.
According to this law the Unified Social Tax , UST , is repaced by specific types of social security to be paid to four separate non-budgetary funds.
Pension fund, social security fund, federal medical fund and territorial medical insurance fund.

For the full article by ABU Accounting Services about Russia Insurance Contributions 2010

Russia Cyprus Double Taxation Treary

May 2009
Russia and Cyprus signed on April 16 , 2009 a new protocol to the existing agreement between the two countries.
The new treaty is expected to be ratified in 2009 and effective from 1.1.2010.
After entering into force Cyprus will be removed from the Russian "Blacklist " of countries failing to cooperate with the Russian tax authorities. The removal will grant participation exemption for dividends received by Russian companies from Cypriot subsidiaries.
In addition in future capital gain from sale of shares in rich real estate companies will be taxed, following the OECD model , in the country where the real estate is located.

Russia Reduced Profit Tax 2009

April 2009
There are some significant changes in Russia tax laws in 2009.
The 2009 corporate profit tax rate is reduced to 20%, compared to 24% in 2008.
Taxpayers who purchase certain fixed assets can now depreciate 30% for profit tax calculation in the year of purchase, compared to the previous 10% rate.
Employee's contribution to voluntary insurance plans are tax deductible up to 6% of the income, compared to the previous 3% celing.

Russia Tax Rates 2008

March 2008
In 2008 there are no significant changes, compared to 2007.
The Russian corporate income tax rate in 2008 is 24%. The personal income tax rate is 13% for Russians, 30% for non-residents.
The standard VAT rate is 18% .There is also a reduced VAT rate of 10%.
From 1.1.2008 dividend income received by Russian companies from foreign companies is taxed at 9%, compared to 15% in 2007.

Russia Tax Amnesty

March 2007
On 1.3.2007 Russia declared the first tax amnesty for individuals.
The amnesty relates to undeclared income from 2001 till 1.1.2006. Individuals declaring till 31.12.2007 on such income will pay a 13% tax rate,the same rate as the flat tax rate in Russia, without facing any criminal charge.
The money can be transfered directly to the Federal Tax Service bank account, without having to deal directly with the tax officials.
The tax amnesty,which has no minimum or maximum limit, does not relate to people who were already convicted for tax evasion.
The amnesty hopes to bring back to Russia some of the US 160 billion capital which fled from the early 1990's from Russia.
In 2006, surprisingly,the capital inflows into Russia were about US 41 billion.

Russia Taxes

January 2007
From 1.1.2007 losses from previous period can be fully carried forward against the present year income. before 1.1.2007 offset was limited up to 50% of the current year income. From 2007 R&D expenses can be depreciated in one year, regardless of being successful or unsuccessful.

Russia - Kaliningrad Special Economic Zone (SEZ)

April 2006
From 1.4.2006 there are new tax incentives for investors in Kaliningrad SEZ.
Companies investing in production a minimal sum of 150 million Rubles within 3 years are exempt from Russia corporate tax for 6 years, with additional 50% corporate tax reduction for the next 6 years.
There are additional benefits, including exemption from customs duties.

Russia Inheritance and gift tax

July 2005
There is a new law,effective from 1.1.2006
Main changes:
-Abolition of the inheritance and gift tax.
-Close relatives would pay no personal income tax on gifts, e.g. real estate, cars, shares etc.
-Non close recipients would pay personal income tax on gifts.

Russia Income tax

January 2005
From 1.1.2005 Russia new income tax rate for dividend income paid within Russia is 9%(previous rate-6%).

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