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Putin Signs FCE Taxation Amendments

15.02.2016 16:09 / TASS

President Putin has signed amendments to the Tax Code, improving foreign controlled enterprises (FCE) profit taxation and foreign enterprise income taxation.

Amendments to the Russian Tax Code detail the rules for FCE profit tax calculation, prevent double taxation of dividends, and prolong FCE liquidation timeline.

The new law prolongs the notification period for taxpayer’s participation in foreign enterprises from one month to three months starting from the date of assuming partial ownership of a foreign enterprise.

Duma Budget and Financial Markets Committee Chairman Sergey Ryabukhin told the press earlier that the amendments will address the issues that have been identified since the FCE Act had been enacted.

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