The Russian Ministry of Finance has completed a public consultation on draft amendments meant to clarify the country's controlled foreign company (CFC) regime as it applies from 1 January 2015. The main amendments include:
- Clarifying the rules on the carry forward of losses of a CFC in the three years immediately preceding 2015;
- Clarifying the procedure of taxation on financial asset transactions of CFCs (including securities), which includes that the income is determined based on the sales…