3 февраля 2017 г.

On February 3, CFA Association Russia held its first business breakfast in 2017. The occasion stirred up an excitement within the Russian financial community with over 60 guests showing up to the event that was focused on the theme of taxation and investment projects.

Business breakfast took place at the Food House restaurant on New Arbat Street. CFA Russia invited two financial experts from Ernst & Young (EY), Victor Kalgin, CFA, and Andrei Sulin. The speakers talked about the taxation structure of investment projects and how tax regulations affect business in Russia and around the world.

Victor Kalgin, the director of International Tax Services at EY, focused on three key things: taxes on earned revenues, taxes on repatriate funds, and the taxation of assets sold overseas.

Victor also touched on the issues of offshorization and how the process of moving capital to foreign countries is causing the development of new tax policies and anti-offshorization laws aimed at tightening control over financial operations in offshore areas.

Andrei Sulin, the director of Transaction Tax Services at EY, took the floor after his colleague. Andrei focused on the step-by-step process of Mergers and Acquisitions (M&A), transactions in which the ownership of companies are transferred or combined. 

M&A transactions help companies to grow, shift or change the nature of their business; however, the process also carries some elements of risks. The EY tax expert warned about potential financial hazards that companies might encounter with M&As, especially when foreign companies have their shares within Russian enterprises. 

Andrei also explained the ins and outs of every stage in the M&A process, shedding light on the structure, modeling of evaluation process, and all the documents necessary to successfully merge and restructure companies.

The presentations were held in the form of a dialogue with guests regularly asking questions and commenting on information they found interesting. Based on the amount of questions both speakers were asked, the theme caused quite an excitement among the guests. When the presentations were done, many guests stayed to clarify some fine points and particular details made by both speakers. The informal Q&A session soon turned into a networking event with professionals exchanging their business cards and phone numbers.

Stay tuned for a full video of the event that will be available next week. The video, like all other videos from CFA Russia professional events and trainings, can be found in the members-only section of the new CFA Russia website.


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