Country News

Russia plans to exclude EU countries from the list of states for the exchange of country reports, which will entail additional reporting obligations for international companies.

The Russian Federation law comes into effect on September 1, 2024 and requires a notarized resolution when appointing the CEO of an LLC.

From 2025, businesses will face an increase in income tax from 20% to 25% and changes to taxes for certain branches. Further notable changes include, among other things, the introduction of a five-stage progressive personal income tax scale and implementation of VAT for a segment of small businesses.

Amendments to the tax legislation include exclusion of the Principality of Liechtenstein from the list of offshore zones, changes on transfer pricing, exemption from the obligation to submit income tax returns.

The Armenian Cryptocurrency Regulation Bill aims to ensure customer protection, prevent illegal activity and encourage innovation.