Stanislav Tourbanov

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Tax authorities cannot require a transaction be recognised as invalid on the basis that it was entered into for the purposes of tax evasion

Russia - November 30 2012 On 6 November 2012, the Presidium of the Supreme Commercial Court of the Russian Federation (the "SCC") tried a case in which it needed to rule on whether a transaction should be declared invalid.

Deduction of VAT beyond the period in which the right to deduction arose

Russia - November 30 2012 On 17 October 2012, the Federal Commercial Court of the Moscow District (the "FCC") reviewed a case on the possibility of deducting VAT beyond the tax period in which the right of the taxpayer to such deduction arose.

Since 1 August decisions on suspension (cancellation of suspension) of operations on accounts must be submitted to banks only in electronic form

Russia - November 30 2012 In a letter dated 22 October 2012, the Federal Tax Service of the Russian Federation (the "FTS") provides details of an act, which from 1 August 2012 amends article 76 of the Tax Code of the Russian Federation.

The Federal Tax Service clarified how to reflect VAT not withheld by tax agents

Russia - November 30 2012 In a letter dated 24 October 2012, the Federal Tax Service of the Russian Federation (the "FTS") clarified that sums of VAT which are not withheld and not paid by tax agents must be reflected as tax arrears in the decision on imposition (or non-imposition) of sanctions for the commission of a tax offence.

Cyprus removed from Russia’s tax haven black list

Cyprus, Russia - November 30 2012 Cyprus was removed from the black list of offshore areas providing preferential tax treatment and/or not providing disclosure and reporting data on financial operations (the "List").