Updates on Profit Tax in Russia relevant to June 2015. The article was originally published: http://www.accountor.ru/en/news/2015/updates-profit-tax-russia-june-2015

1. ACCOUNTOR
Sadovnicheskaya nab. 79 Moscow Stockholm
115035 Moscow, Russia St. Petersburg Oslo
+7 495 788 00 05 Kyiv Copenhagen
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Updates on Profit Tax in Russia, June
2015
Today we are discussing recent changes in profit tax regulations in Russia relevant to
June 2015:
SINCE 2015 INTEREST ON LOANS AND CREDITS DOES NOT HAVE TO BE
NORMALISED. THIS ALSO APPLIES FOR INTEREST ACCRUED IN 2015
FOR CONTRACTS CONCLUDED IN 2014 AND EARLIER.
This rule has two exceptions. In special circumstances the interest on controlled debt
should be taken into account. This includes, for example, a debt to a foreign
organization that owns more than 20 percent of the share capital of the debtor
company. (p. 2, Art. 269 of the Tax Code).
There is one more case, but it is a rare one. It is necessary to normalise interest on
controlled transactions listed in the first part of the Tax Code. For example, on credit
obtained by an interdependent organization, if the annual interest rate exceeds 1
billion rubles. From January 1st 2015, when normalizing this kind of interest the key
rate should be used, rather than the refinancing rate as before (Federal Law from
March 8, 2015 № 32-FZ).
Legislation act: Letter of the Ministry of Finance, dated January, 13 2015 № 03-03-
06/1/69460

2. ACCOUNTOR
Sadovnicheskaya nab. 79 Moscow Stockholm
115035 Moscow, Russia St. Petersburg Oslo
+7 495 788 00 05 Kyiv Copenhagen
accountor.ru Helsinki Utrecht
info@accountor.ru
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