The Russian Ministry of Finance recently published Letter No. 03-12-12/2/75553, which clarifies the notification requirements for taxpayers that have a participation in a controlled foreign company (CFC). The letter clarifies that resident taxpayers must notify the tax authorities if their participation in a CFC exceeds 10%. Such notification must be provided within three months from the date the 10% threshold is exceeded, including in regard to foreign institutions without legal personality.…