Russia MOF Announces Government Approval of Amendments to Various Tax Measures

The Russian Ministry of Finance May 23 announced government approval of amendments to various tax measures. The announcement includes measures to: 1) increase to 1 million Russian rubles (US$12,462) from 50,000 rubles (US$623) the one-time corporate payment per child, which is not subject to individual income tax and insurance contributions, applicable to support provided by an employer at the birth or adoption of a child, as well as when establishing guardianship over a child; 2) allow employers to include the specified expenses in the composition of non-operating expenses considered when calculating corporate income tax bases; 3) extend the zero percent ...