On 20 April 2007, the State Duma (the lower chamber of the Russian Parliament) passed in the second reading a bill exempting the dividends paid to qualifying parent companies from withholding taxes in Russia.
Finance Ministry clarifies discharge of debt not exempt
Under Art. 251 of the Russian Tax Code, assets, including money, transferred free of charge by a parent company to its subsidiary, or vice versa, are exempt from corporate income tax in the h…