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Russia Clarifies Tax Treatment of Property Received Free of Charge

|Approved Changes|Russia
Russia

The Russian Ministry of Finance has published Letter No. 03-03-07/12958 of 28 February 2019, which clarifies the tax treatment of income in the form of property (work, services) or rights of ownership received free of charge. The letter clarifies that such income must be included as taxable non-operating income unless Article 251 of the Russian Tax Code applies. Article 251 covers certain incom…

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