Legal overviews
Key Aspects of The Asset Swap
- Service: Tax Law
- Date: 25.03.2024
The media’s attention has long been drawn to issues of swapping assets blocked due to sanctions imposed by western states, as well as due to the counter-sanctions Russia imposed in response.
EU 12th sanctions package: software under threat
- Service: Intellectual Property (IP)
- Date: 30.01.2024
Economic sanctions against Russia have been among the hot topics for business. At the end of 2023, the EU published the 12th sanctions package aimed at Russian companies and state authorities. There are major changes concerning the provision of software to Russian companies.
Taxes on operations with foreigners: what to know in 2024
- Service: Tax Law
- Date: 16.01.2024
The end of the past year turned out to be a fruitful time for lawmakers, particularly in respect to taxation. To add, the majority of new laws took effect right as the celebrations unfolded, i.e. starting from January 1, 2024.
In this review, we will examine the main novelties in tax law which could have a meaningful impact on Russian business that has economic, corporate and other ties with foreign entities. That said, lawmakers were apparently guided by the principle of “leave no one behind” and addressed practically everyone, since the provisions we will examine here will affect not only persons with ties to so-called “unfriendly entities,” but also residents of other foreign states.
Double tax treaties suspended – now by law
- Service: Tax Law
- Date: 21.12.2023
Since August of 2023, businesses have had to adapt to the fact that Russia has suspended double tax treaties with a number of foreign states. Although suspension of double tax treaties is not provided for by the international treaty itself, the suspension was ordered by a Decree of the Russian President (Presidential Decree No.585 dated August 8, 2023, hereinafter “Decree 585”), as we wrote earlier.
Vladimir Putin signs decree on swap of frozen assets, now it’s up to the EU
- Date: 17.11.2023
As a follow-up to our previous reviews, here is the latest on the changes in the frozen asset exchange mechanism.
To localize or not to localize
- Service: Data Protection
- Date: 21.09.2023
New mechanism for payments under Russian ministry of finance’s Eurobonds
- Service: Tax Law
- Date: 18.09.2023
Presidential Decree No.665 dated September 9, 2023 (“Decree No.665”) was published recently and regulates the procedure which Russia will follow when performing its obligations under eurobonds (state bonds in foreign currency) to residents and to foreign creditors. The new decree modifies the procedure previously set by Presidential Decree No.394 dated June 22, 2022. In this overview, we will briefly analyze how Decree No.665 changed the process.
DTTs with “unfriendly” states suspended
- Service: Tax Law
- Date: 15.08.2023
The biggest news from last week is the Decree of the Russian President on suspension of DTTs.
Earlier, we noted that this is important news, and now we have prepared an expanded review in which we tell you about consequences and measures to take.
The Capital Legal Services team continues to monitor the situation.
11th package of EU sanctions makes it difficult to manufacture goods in Russia
- Service: Intellectual Property (IP)
- Date: 27.07.2023
On June 26, 2023, the EU Council adopted the 11th package of economic and individual restrictive measures to strengthen the existing sanctions and prevent their circumvention.
Restrictive measures earlier applied to objects of intellectual property (hereinafter “IP”) owned by certain individuals and organizations (see our review from last year), but now these measures directly affect IP associated with certain goods and technologies, regardless of who their rightholder is and in which state the rights to intellectual property are used.
Below, please find our review of the main changes related to regulation of intellectual property introduced by the 11th package of EU sanctions, as well as our analysis of clarifications of the European Commission on intellectual property issues which could be of use for your business.
New restrictions on Share deals and payment of dividends
- Service: Corporate Law / Mergers and Acquisitions
- Date: 24.01.2023
On December 22, 2022, the Government Commission on Monitoring Foreign Investment in the Russian Federation issued additional restrictions on transactions with shares (participatory interest) in joint stock companies and limited liability companies, as well as on payment of dividends in favor of shareholders from so-called “unfriendly” states.