The National Coordination Center for International Business Cooperation and Tax Compliance have released a new monthly review (July 2024) dedicated to taxation and anti-sanction regulation of foreign business activities in Russia.

One of the main topics of the issue was the analysis by our experts of such a tool as «Tax gross-up», the provisions of which are especially popular in international treaties.

The tax reform, which is gaining momentum, will also affect foreign business. You can find an analysis of the main changes in the taxation of controlled foreign organizations in the «Legislative Initiatives» section.

In this issue, our experts examined in detail one of the options for cross-border settlements – the use of a payment agent. In the context of sanctions, studying the operation of this mechanism can be useful for international business in Russia.

The «Tax Practice» section describes a notable legal dispute that can create new tax risks when paying income to foreign organizations.

You can also follow the link to read the first issue (June 2024), which is available in six languages.

We hope that our monthly tax reviews will become information assistants for you and your business.