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Annual Report for the International Bar Association on Recent Developments in Russian Taxation

July 2008

International Bar Association

Between 1999 and 2005 the Russian tax system has undergone significant changes and now it enjoys a period of relative stability.

During the last year, many important changes were made to the Russian tax system, such as a blacklist of foreign jurisdictions was issued, issues of deductibility of expenses and tax avoidance were further clarified, and a VAT reverse charge mechanism was developed.

On May 26, 2008 the Russian Government approved tax policy guidelines for 2009-2011. The goal of tax policy in the medium term is to improve the system of tax administration in Russia.

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