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Changes in the tax regulation of CFC in the Russian Federation


Since January 1, Russia has changed the tax regulation of controlled foreign companies (CFC).

Federal Law No. 368-FZ of 09.11.2020 "On Amendments to Parts One and Two of the Tax Code of the Russian Federation" introduced provisions concerning the new regime for the payment of personal income tax from fixed profits of CFC, as well as changes affecting the procedure for paying CFC profit tax and measures of liability for tax offenses. On January 1, these changes came into force.

From now on, the notification of CFC by individual taxpayers is submitted no later than April 30. For taxpayers-organizations, the deadline for submitting the notification remained unchanged - March 20. For failure to submit a notification within the prescribed period, the fine has been increased to 500,000 rubles.

For the first time, this tax can be paid by individuals as early as 2021, based on the results of the 2020 tax period. The amount of tax on fixed income will be 5 million rubles annually for all CFC of the taxpayer. At the same time, the legislator does not impose on the taxpayer the obligation to submit documents confirming the amount of the CFC's profit.

If the persons controlling the CFC do not calculate the tax on the CFC's fixed profit, they are required to submit to the tax authority documents confirming the amount of profit (loss), regardless of whether they have an obligation to pay the CFC's profit tax.

Recall that the fixed amount of CFC profit, which is paid a fixed tax of 5 million rubles, is established by the Tax Code and is:

• for the tax period of 2020 – 38,460,000 rubles.

• for tax periods starting from 2021 – 34,000,000 rubles.

It is also worth noting that the notification of the transition to the payment of personal income tax with a fixed profit for 2020 can be submitted before February 1, 2021, in the future, the deadline for submission is set until December 31 of the year from which the taxpayer begins to pay tax with a fixed profit.

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