The Russian Ministry of Finance has recently issued guidance dated 30 June 2015, which clarifies the determination of controlled foreign companies (CFC) and controlling persons. Major reform of the Country's CFC rules was signed into law in November 2014 ({News-2014-11-25/A/3- previous coverage}), and additional revisions were signed into law in June 2015.
Under the reform, the criteria for determining if a Russian resident is a controlling person (natural or legal) of a CFC are transitioned…