Finally — no withholding tax on Russian eurobonds - .PDF file.
Last summer we informed you that the Russian Tax Code had been amended to stipulate that Russian borrowers will not have an obligation to withhold tax (if certain conditions are met) on interest payable under eurobonds issued by Russian companies from 1 January 2007 to 1 January 2014. Those amendments were considered by the market as a temporary measure and a compromise among various political forces.
Now we are pleased to note that the latest amendments to the Tax Code have extended these arrangements to eurobonds issued any time after 1 January 2014. This change represents another important step towards developing pragmatic, professional and commercially oriented market relations in Russia…
If you are registered and logged in to the site, click on the link below to read the rest of the Allen & Overy briefing. If not, please register or sign in with your details below.