Euro­fast con­fer­ence in Moscow; “Cross-bor­der trans­ac­tions: ef­fi­cient way to mit­i­gate tax risks”

Financial Mirror (Cyprus) - - FRONT PAGE -

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.

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