21 марта 2019 г.

In the aftermath of a new regulation on the taxation of controlled foreign companies (CFCs) some details remain unclear and a few questions left unanswered. To find these answers and elaborate on best practices surrounding the topic, CFA Association Russia held a business breakfast focusing on the new offshore regulations with experts from UFG Wealth Management, the first independent family office in Russia.

The event was held at the office of EY Business Academy, one of CFA Russia’s partners, and gathered around 30 guests.

UFG Wealth Management’s executive director, Andrey Pozhitkov, and the company’s head of tax planning department, Yuri Kulikov, held a two-hour presentation on the new tax regulations and the subsequent requirements taken in offshore jurisdictions. The speakers also shared their thoughts on how these changes are impacting investment funds and possible solutions companies can seek to lighten their tax burden in the new environment.

Above: Andrey Pozhitkov, left, and Yuri Kulikov.

There are several strategies companies can choose to do to pay fewer taxes, including re-domiciliation to one of the jurisdictions with simpler exemption rules, such as Cyprus or Luxembourg, or moving one of company’s offices to those countries, the experts said.

A couple of years ago, the Russian Ministry of Finance came up with a new taxation rule in regards to CFCs. The regulation affected both the businesses of Russian companies working overseas and Russian citizens who own shares in foreign companies.

To learn more about the discussion watch a full video of the presentation available for free to all CFA Russia members and everyone who registered to the event.

If you are interested in joining the local CFA society and get full access to videos from all our previous events, please feel free to contact CFA Association Russia at office@cfarussia.ru.

FULL VIDEO OF THE EVENT >>>