On 29 January 2016, Russia's State Duma (lower house of parliament) adopted Federal Law No. 953192-6, which includes amendments to the country's controlled foreign company (CFC) rules. The main aspects of the law include:
- The option to determine profit/loss of a CFC based on its financial statements is added, with the condition that the statements are subject to mandatory audit (with no negative conclusion) and the CFC is tax resident in a jurisdiction that has entered into an agreement with…