Instruction No 37 of the State Tax Service on Profits Tax and Instruction No 39 on VAT have now been brought into line with the Federal Law (discussed in TNR dated 20 December 1995) exempting the production and sale of newspapers and other media from Profits Tax and VAT.
(Amendments of 22 and 23 January 1996 to the relevant Instructions)
Russia-US Tax Reform Agreement
Russia and the US have signed an agreement which outlines recommendations to the Russian Government on how it should reform the tax system. The agreement is a product of the Gore-Chernomyrdin Commission and calls, amongst other things, for the abolition of VAT on inter- company loans, a system of tax courts and a mechanism for advance tax rulings.
Taxpayer Identification Numbers (TIN)
From 1 January 1996, the TIN of the remittor of funds, as well as the receiver, must be mentioned on money transfer orders.
Letter of the State Tax Service No VG-4-12/4n of 17 January 1996
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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