Federal Tax / Property Tax / Representative Offices
The new Instruction regarding property tax payable by foreign legal entities in Russia has now been published. The Instruction lays down more precise accounting and reporting obligations than at present and also requires a detailed description of the property concerned. A Tax Alert is in the course of preparation and will shortly be issued to all recipients of Tax News Reporter.
(Instruction of the State Tax Service No 38 dated 15 September 1995)
1995 Year Accounting Reports/Russian Legal Entities
A new Instruction issued by the statistical authorities states that all Russian legal entities are required to submit to the authority their statutory accounts each year, commencing with the accounts for 1995 -although until now, some have done so on a voluntary basis. Information contained in these accounts will be available for sale - it is claimed not to be confidential under Russian accounting rules.
(Instruction of the State Statistical Committee of Russia No 157 dated 27 September 1995)
Trade Marks / Registration
Rules on the registration of agreements which relate to the use of trademarks have been issued by Rospatent, the registration agency. Agreements which are registered in the State Register of Trade Marks are subject to the new rules, and these are not observed, the agreement may be ruled invalid.
(Registration Rules by the Patents and Trade Marks Committee dated 26 September 1995)
Legal developments are reported in Tax News Reporter on official publication. This may be long after the law is issued.
This publication is intended for general guidance only and should not form the basis of specific decisions.
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The New Turkish Commercial Code ("New Code") has been enacted and will enter into force in July 2012. One of the major changes brought by the New Code regards mandatory independent audits of corporations.
The law about payment of dividends has remained substantially unchanged for thirty years.
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