Russia Gazettes Law Amending Tax Code

The Russian Official Gazette July 2 published Law No. 305-FZ, amending the tax code. The law includes measures: 1) extending to Dec. 31, 2024, from Dec. 31, 2021, the 50 percent loss carryforward regime; 2) increasing the excise tax gradually each year on various fuels, alcohol, and tobacco products from 2022 to 2024; 3) providing the procedure for corporate property tax declarations; 4) providing a VAT exemption for the catering industry, applicable from Jan. 1, 2024; and 5) establishing a deadline of March 28, 2022, for qualified cultural organizations to make 2020 and 2021 income tax payments. The law enters ...