OrbitaxLaw No. 58-FZ of 6 June 2005 amending the corporate income tax section of the Tax Code was published in the Official Gazette of 14 June 2005. From 2007, a full offset of previous losses against profits will be introduced (currently, a 30% per year limitation applies and a 50% limitation is established for 2006);
|Approved Changes|Russia
Furthermore, the law, provides for amendments of the thin capitalization rules, which will apply as from 1 January 2006. The amendments to the thin capitalization rules include the following:
| - | to calculate the amount of deductible interest, interbank rate (as established by the Central Bank) effective at the time when the loan was giv… |
