FBK Experts in the Annual RSPP Conference on De-Offshoring

Andrey Tikhonovsky, FBK Vice-President, RSPP Tax Policy Committee Vice-Chairman,  Nadezhda Orlova, FBK Tax and Legal Partner, Tatiana Matveicheva, head of FBK Legal Tax Consulting Practice,  Dmitry Paramonov, FBK Legal, Tax Consulting Practice Attorney at Law, and Ekaterina Dbar, heading FBK Tax Consulting Practice,  took part in the annual conference of “De-offshoring in Russia: the Law on Controlled Foreign Companies - Practical Application and Course of Development, held under the Russian Business Week.

The main topic of the discussion was the so-called anti-offshore legislation which determines the mechanism of profit taxation of controlled foreign companies and the income of foreign organizations.

According to Andrey Tikhonovsky, the new tax rules are able to make a significant impact on different categories of the social and economic groups in the country as well as the Russian economy in general. To ensure that their positive long-lasting effect is achieved without any negative impact on the economic growth there should be established a close and constructive dialogue between the taxing authorities and taxpayers. FBK Vice-President also pointed out that during the last several years many countries in the world took efforts to improve the “transparency” of business in order for major corporations to pay, as believed by the fiscal authorities of many countries (including the USA and EU), a “fair” share of the total taxes to the budgets.

“The introduction of the income tax rules for controlled foreign companies is an inevitable stage in the development of the tax system of developed countries. Such measures are not introduced by Russia alone. That is a global trend,” added Dmitry Paramonov. “The de-offshoring will have an impact on both the taxation and the structure of transactions conducted in Russia and in foreign jurisdictions”.

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