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Transaero Starts Flying Nonstop to Los Angeles

The Moscow Times

... U.S. cities of New York and Miami, has been rapidly expanding. Last month, it ordered four Boeing 787-8 Dreamliners to add to its fleet of more than 80 aircraft and bought an aircraft maintenance station with 240 employees at the airport in Shannon, Ireland. Transaero is now considering routing its U.S.-bound flights from Russia through the Shannon airport, where passengers could clear U.S. customs and avoid potentially avoid long lines upon arrival in the United States, the Irish Times reported...

Cigarettes to Cost 5 Times More by 2018

By Ken Martinez / The Moscow Times

... estimates, middle-income smokers will have to spend about 12 percent of their daily disposable income, while poorer smokers will be spending as much as 28 percent, compared to today's 5 percent and 7 percent, respectively. Experience from Bulgaria, Ireland, Poland and Romania shows proposed tax policies could result in a market volume collapse in Russia from 369 billion cigarettes per year to 186 billion, while at the same time boosting illegal trade from 11 percent to 35 percent of the market,...

Finance Ministry's View on Taxing Eurobonds

By Ivan Zelenin / Pepeliaev Group

... interest to the shareholders through the Russian bank and SPV. With regard to the Russian Tax Code, a Russian legal entity (the bank, in this case) must withhold tax from cross-border payments (including to the SPV). But the double taxation treaty with Ireland, for instance, allows payment abroad without withholding if a recipient is a beneficial owner. For many years, the Finance Ministry viewed an SPV possessing an agreement with a Russian bank as a beneficial owner. It released the SPV from taxation...

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