De-Offshorization and Taxation of Foreign Trusts in Russia

De-Offshorization and Taxation of Foreign Trusts in Russia

Changes may affect future wealth planning structures

Several recent high profile court and arbitration disputes reveal that common law trusts remain a popular tool for organizing domestic and international assets of Russian clients.1 Thus, we may expect that the major changes in the taxation of foreign trusts in Russia, which occurred in 2015, will directly affect many existing and future wealth planning structures involving its citizens. 

These changes resulted from the introduction into the Tax Code (the Code) of the

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