Taxes

Russia’s central bank plans to tax bitcoin, deem it a “digital commodity”

May 31, 2017

According to its deputy chairwoman, Olga Skorobogatova, Russia’s central bank is in the process of drafting legislation to legally recognize and monitor digital currencies. The preliminary draft regulation could be presented to the Russian State Duma, the lower chamber of the Russian Parliament, as soon as June, Skorobogatova was quoted as stating by Interfax. Skorobogatova’s comments …

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Airbnb closes Russian subsidiary

April 15, 2017

Airbnb has shuttered its Russian subsidiary in a bid to simplify the company’s operating structure across the globe. The company has decided that it was “easier” to conduct operations through their offices in Berlin, Dublin and London, said company spokesperson Yekaterina Kukureko. “Therefore, there was no reason to keep the Russian subsidiary open.” “We remain committed to …

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Facebook and other global digital giants agree to pay Russia’s new VAT on digital content

April 17, 2017

Facebook will pay Russia’s new 18% value-added tax as a foreign company selling digital content in Russia. The social network has joined a hundred other foreign companies that have registered to pay the VAT with Russia’s tax service. Among these companies are Alibaba, Amazon, Apple Distribution International, Bloomberg, Financial Times, GoDaddy, Google Commerce Ltd, Microsoft Ireland, Netflix International B.V., …

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‘Google tax law’ comes into force: VAT applies to digital content and services, Uber benefits from favorable ruling

February 6, 2017

Starting January 1, foreign companies selling e-content via the Internet in Russia are required to register private offices in Russia, submit information on their sales in the country, and pay a 18% value-added tax. The tax applies to the following types of content or services: selling and giving access to e-books, audio and visual content, images …

‘Google tax law’ comes into force: VAT applies to digital content and services, Uber benefits from favorable ruling Read More

Bitcoin legal by default in Russia, confirms new federal tax document

December 5, 2016

A document by the federal tax authority in Russia has revealed its first official stance on the legal status of cryptocurrencies and it makes for good reading for adopters of bitcoin and other digital countries in the Russian federation. The document deems trading of bitcoin and other digital currencies as foreign currency transactions according to …

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Alisher Usmanov invests $8 million in tax data operator OFD.RU

October 28, 2016

USM Holdings, a company controlled by Russian billionaire Alisher Usmanov, is about to invest 500 million rubles (approximately $8 million at the current exchange rate) in tax data operator OFD.RU. The news was reported earlier this month by business daily Kommersant, based on exchanges with representatives of both companies. The funding will be spent on …

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Russian parliament approves ‘Google Tax’ for foreign app stores

January 30, 2017

Russia’s Federation Council, the upper house of parliament, has approved a law requiring foreign companies to pay value added tax (VAT) of 18 percent on online content, the Interfax news agency reported Wednesday. The bill, nicknamed the “Google tax law”, will also require companies who distribute or sell online applications, games, music, or other content …

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Putin supports introducing sales tax on foreign Internet companies

February 7, 2016

Vladimir Putin has ordered the government to develop legislative amendments that will provide “more equal working conditions” among Internet companies in Russia. The executive order is addressed to several branches of the state: the Anti-Monopoly Service, the Ministry of Economic Development, the Ministry of Finance, the Federal Tax Service, the Ministry of Industry and Trade, …

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Russian lawmakers propose a new 18% tax on foreign-developed apps

December 30, 2015

Russian lawmakers have introduced draft legislation that would levy a tax on the purchase of content and software from foreign IT companies. In particular, the tax would apply to the App Store and Google Play online stores, where Russian customers currently pay no sales taxes. Lawmakers say the new legislation could bring in tens of …

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Cross-border sales to Russia: super mild tax regime maintained

October 28, 2014

In what looks as a final decision after a long period of discussions and unconfirmed announcements, Russia Economic Development Minister Alexey Ulyukaev announced yesterday a new threshold for customs taxation affecting cross-border sales to Russian online consumers. These will continue to enjoy tax-free shopping through foreign retailers, as long as their purchases do not exceed …

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Russian cross-border e-commerce platform Shopfans.ru to bypass new customs rules via Kazakhstan

July 2, 2014

Earlier this week Shopfans.ru, a Russia-focused mail-forwarder and marketplace for US retailers, informed its consumers about a new delivery option to Russia through Kazakhstan, Russian newspaper RBK Daily reported. With both countries members of a customs union, this transit service allows buyers to circumvent the 150-euro tax-free limit  on purchases from foreign retailers, which the …

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