Clifford Chance

Global tax warming, or New Year presents from the State Duma (English)

4 February 2014

On 28 December 2013 the President of the Russian Federation signed the Federal Law No. 420-FZ "On the Incorporation of Amendments to Article 275-3 of the Federal Law "On the Securities Market" and to Parts One and Two of the Tax Code of the Russian Federation" (the "Law"). The Law contains a wide range of amendments to the Russian Tax Code. Most of the amendments introduce new tax benefits and clarify provisions regarding formation of the tax base (including booking of losses) with respect to particular types of financial transactions.

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