Maximum deductible interest coefficient remains unchanged until 31 December 2013

According to the Tax Code, as a general rule the deduction of interest for Russian corporate income tax purposes is limited. Where no bank loans were made available in the same quarter under comparable conditions, a taxpayer may apply the method whereby the maximum deductible amount of interest is equal to the rate of the Central Bank of the Russian Federation (currently, 8%) multiplied by 1.1 for debt obligations denominated in roubles. For the period from 1 January 2011 till 31 December …