Country News

On June 30, 2020, the Supreme Court of the Russian Federation adopted two resolutions No. 12 and No. 13, explaining the rules of court proceedings in the appellate and cassation instances in arbitration courts that deal with disputes related to business activities.

As follows from the decree of the head of state dated February 24, 2020 “On additional measures for the transition to international financial reporting standards”, Uzbekistan opens a new page in the history of transition to IFRS.

On 20.07.2020 the President of the Russian Federation signed Federal Law No. 218-FZ on amendments to the Code of Administrative Offenses of the Russian Federation, according to which the liability for non-repatriation of foreign currency revenue is significantly reduced.

On July 31, 2020, Federal Law No. 265-FZ was adopted, according to which individuals will be able to remain tax residents of the Russian Federation even if they stayed in the Russian Federation for less than 183 days during 2020.

On July 24, 2020, Decree of the Government of Russia No. 891, which came into force 19.06.2020, approved the new Rules for maintaining statistic data of mutual trade of the Russian Federation goods with the EEU countries.