Eurofast conference in Moscow; “Cross-border transactions: efficient way to mitigate tax risks”
Eurofast, a regional business advisory organisation with offices in 21 cities in Europe, Middle East and Africa, hosted an international conference in cooperation with the leading Russian law firm Pepeliaev Group. The conference, “Crossborder transactions today and tomorrow: the efficient way to mitigate tax risks” was held in Moscow, on April 12. The event took place in St. Regis hotel in the city centre.
The conference focused on the current situation and the forthcoming changes in international taxation. The participants were presented with assessments, clarifications and recommendations by Russian and foreign experts on how to mitigate tax risks. The event gathered around 80 tax department heads of Russian and multinational corporations, tax specialists and tax lawyers, as well as state officials from the Russian Ministry of Finance and the Federal Tax Services. The issues discussed related to the broadening data exchange and cooperation between tax authorities, the increasing interest in the taxation of multinational business structures and groups, the legal rules aimed at de- offshorization of the Russian economy, trends in the state`s tax policy, as well as new risks and measures for their mitigations.
Eurofast was represented by Executive Director Christodoulos Damianou, CIS Region Director Savvas Perikleous, Senior Associate Anna Pushkaryova and Tax and Legal Advisor Alena Malaya.
Anna Pushkaryova held a presentation on “Delivery of information to Russian tax authorities: how to minimize risks of challenging tax residency of Cyprus companies?”. Her presentation focused on Cyprus legislative rules related to foreign authorities processing requests for tax information regarding Cyprus tax residents, practical issues related to exchange of information between Cyprus and Russia, substance requirements for Cyprus companies, and touched upon the obligation regarding the creation of registers of ultimate beneficiaries of companies and trusts.
For more information on Eurofast and portfolio, visit www.eurofast.eu.