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Russia Rakes in $1Bln From New Tax on Top Earners

Extra revenues almost 40% higher than expected in first year of new income tax system.

New Tax Scheme Lures 4 Million Russians to Self Employment

Most of the freelancers run taxi, repair and delivery, marketing and real estate services.

DEOFFSHORIZATION

Russia Tightens Rules on Offshore Holding Companies

Dozens of Russian companies with Cypriot headquarters will lose access to government support under new rules.

Top Executive of Russia’s Novatek Arrested in U.S. for Tax Fraud

A federal grand jury indicted Mark Gyetvay for hiding assets worth as much as $93 million in offshore accounts between 2005 and 2016.

Russia Demands Metals Giants Pay Windfall Tax

Surging prices have helped metals companies “trick” the state out of $1.4 billion, a key government figure said Monday, demanding they pay up the difference...

Russians Hold $180Bln Abroad – Tax Service

There are around 700,000 foreign accounts controlled by Russian individuals and legal entities, according to the Federal Tax Service.

Steven Seagal’s Russian Account Blocked By Tax Authorities – Reports

The Sberbank account was blocked in order to ensure the collection of a tax, penalty or fine, documents said.

Putin Signs Law Raising Income Tax for High Earners

Starting next year, the tax rate will rise from 13% to 15% on incomes over 5 million rubles.

OFFSHORE CRACKDOWN

Russia Hikes Taxes on Firms Sending Profits to Cyprus

The Kremlin is on a high-profile drive against Russian companies headquartered in low-tax jurisdictions overseas.

TAX TREATY TANKED

Moscow to Ditch Popular Tax Treaty With Cyprus

In campaign against offshorization, Russia will hike taxes on businesses sending profits overseas.

The Lowest Tax Rate in the World? Russia’s ‘IT Tax Maneuver’

Experts see the Kremlin’s tax cuts for software firms as its latest attempt to squeeze out foreign competition.

Russia Will Raise Taxes on Top Earners, Putin Announces

Flat tax rate scrapped as rich Russians to help pay coronavirus bill.

PLEBISCITE PREPARATIONS?

Russia Mulls Tax Hike on Top Earners

Authorities consider scrapping the flat income tax system, but analysts suspect pre-referendum wheeze.

Most Russian Producers Receive Government Tax Breaks

Foreign firms in Russia more likely to use government schemes to write down tax liabilities.

British Tax Havens to Share Data With Russian Authorities

The sharing of financial information is in the spotlight as Russia has lifted restrictions on its citizens holding overseas bank accounts.

Rich Russians Demand New Tax Breaks

Business owners want a European-style tax system.

Energy Minister Calls for Reform of Oil Taxes

Energy minister says that without tax reform, Russia will not be able to sustain its current level of oil production

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