IEP Experts participated in the RSPP annual tax conference

Introduction of taxation rules on unappropriated profit of controlled foreign corporations (CFC) is an important step and necessary stage in the RF tax system development taking into consideration international trends. Over recent years, many foreign countries do their best to make large corporations pay 'fair' share of their cumulative taxes into their budgets. Introduction of the new rules in Russia represents a fundamental change in the current tax regime able to exert a significant influence on various categories of social and economic groups in the RF as well as on the RF economy as a whole. At the conference, participants discussed the following topics: efficiency and ways of updating CFC rules; international practice in the CFC sphere; enforcement of the CFC rules in Russia.
Alexander Shokhin, the RSPP President welcomed the conference participants. Vladimir Lisin, the RSPP Chairman of the Committee on tax policy, opened the meeting.

Among conference participants were: Sergey Shatalov, deputy Minister of Finance of the RF ('Assessment of the potential efficiency of the CFC rules and the ways of legislative improvements'; Stanislav Voskresensky, deputy Minister of Economic Development of the RF, ('Deoffshorization and the tax amnesty: new challenges and possibilities for the Russian business'); Andrey Makarov, Chairman of the State Duma Committee on budget and taxes ('Ways of cooperation of the State Duma of the RF CF and the business community on the CFC rules improvement'); Tatiana Ilyushnikova, deputy head of the Expert department of the RF President ('What is expected from the implementation of the CFC rules?'); Alexey Riabov, partner of the EY tax and legal practice, head of the department on tax support for foreign investments of the Russian companies ('CFC rules. First assessment by business and ways of further legislative improvement'); Marina Beliakova, partner of tax policy practice at EY ('New law: effect on the Russian business owners; activity scenarios'); Cristopher Sanger, tax partner, Global Head of Tax Policy at EY ('Russia's Deoffshorization in the context of international trends'); Philippos Raptopoulos, tax and legal partner, Head of Tax and Legal practice at EY Cyprus ('Influence of Russia's Deoffshorization on European countries. Including Cyprus');

Deputy Head of the Federal Tax Service ('Tax Administration within CFC Law including drafting forms and regulation for filling out notifications about the participation in foreign organizations and about foreign companies controlled by taxpayer/); Yuri Ivanov, Head of Tax practice projects at law firm VEGAS LEX ('Declaration of foreign structures by the Russian organizations and owners. Areas of concern').