OrbitaxCorporate income tax implications for non-resident shareholders when new shares are issued without changing shareholding percentage – Ministry of Finance clarification
|Approved Changes|Russia
On 7 August 2013, the Ministry of Finance published Letter No. 03-08-05/27970 issued on 17 July 2013 clarifying the corporate income tax implications applicable to foreign shareholders when a Russian company uses undistributed profits to make an additional issue of shares that does not change the shareholding percentage in the company.
The Ministry of Finance clarified that based on article …
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