Notification about CFC may be postponed

According to the source of the newspaper “Vedomosti” lodgment date of an application of notification about Controlled Foreign Companies may be adjourned for the 1^st of September.

In compliance with the official amendments to the Tax Code of the Russian Federation which are concerned with CFC, tax-payers are obliged to notify the revenue authority about their foreign assets.

Federal official – one of the sources of the newspaper “Vedomosti” has reported that predecision was taken on the meeting at Presidential Adviser’s Andrey Belousov on Thursday. This decision may be caused by the fact that it is still not clear how to render an account for revenue service – only a project of form of notification about sharing in foreign organizations out of all the necessary documents was yet published at regulation.gov.ru.

By the way, the source close to the Federal Tax Service of Russia explains that the Service has no time to validate all the forms: even if all the documents were prepared rapidly, no less than two months would be spent on their regulative force assessment, nearly a month – on agreement with the departments, and extra month – on registration at the Justice ministry.

The Source: http://www.vedomosti.ru/newspaper/articles/2015/03/02/polgoda-na-ofshornie-taini