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Tag: 376 FZ

The New Russian CFC Rules – A Superyacht Perspective

For some time now, the Russian authorities have expressed concerns over the use of offshore structures by Russian corporations and individuals. This has culminated in the enactment of the Controlled Foreign Companies (“CFC”) Rules – A regime which provides the authorities with the jurisdiction to tax Russian corporations and individuals on profits held by Russian controlled CFC’s. Given that many superyachts are beneficially…