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Failure by an eligible company to timely submit a complete set of documents confirming exemption from value added taxes ("VAT") will not cause a company to have VAT arrears, but will serve as a basis for imposing a penalty on the company for a delay in making VAT payments.

Federal Law No. 42-FZ dated 4 March 2015 (On Amendments to Part I of the Civil Code of the Russian Federation) (the "Law") was signed by the President of the Russian Federation on 8 March 2015...

At the Berlin forum of German business leaders held in November 2010, Russian Prime Minister Vladimir Putin declared that the clearance procedure of foreign investments in Russian strategic sectors would be simplified in the near future.

On January 1, 2012, new internal funds (capital) requirements came into force, requiring the amount of internal funds (capital) to open a new bank to be 300 million rubles.

On 3 April 2017, the President of Russia signed Federal Law No. 59-FZ on Amending the Federal Law on the National Payment System (the Law).

On April 8 2004 the Constitutional Court held in Ruling 169-O that a company is allowed to reclaim value added tax (VAT) from the government only if the purchased goods or services were paid for with the company's own funds, as opposed to borrowings.

It may be too early to judge whether Russia’s new competition law, which took effect less than five months ago, will live up to its promise to modernize and streamline Russian antimonopoly review of mergers, acquisitions, and similar equity transactions.

This client briefing discusses the principal tax aspects of the recent amendments to the tax legislation and certain other legislative acts (the "New Law") that were signed into law on 25 November 2009 will become effective on 1 January 2010 (save for certain provisions for which a different implementation procedure is envisaged).

Going forward, RRIs shall submit reports for each calendar year (the few exceptions noted below) before 1 June of the year immediately following the reporting period.

July saw the entry into force of the majority of provisions of the long awaited and much discussed new Federal Law No. 38-FZ "On Advertising" (the "New Advertising Law"), a significantly improved law which alters the legal framework regulating advertising activities in Russia.

For better or worse, we live in an increasingly globalised world. And in the lifetime of many businesses, there comes a time when they need to expand into new markets in foreign lands.