The Parliament has adopted a number of amendments in the field of tax legislation

The Parliament has adopted a number of amendments to the Tax Code of the Russian Federation. In particular, Russian tax residents will be required to withhold and pay VAT from foreign suppliers who are not considered taxpayers in the Russian Federation.

In addition, a novelty of the Russian tax legislation is that the list of taxable income of a foreign organization will include income on interest from the debt obligations of the permanent representative offices of the specified organization in the country.

The legislative changes also exempt public catering facilities (cafes, bars, restaurants) from the obligation to pay VAT, provided that the amount of income did not exceed 2 billion rubles in total for the previous calendar year, as well as income from public catering services amounted to at least 70% of their total volume.

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