Country News

The Law of June 30, 2020 No. 36-Z “On Amendments to the Laws on Currency Regulation and Currency Control” (hereinafter – the “Law”) amends some currency regulations and currency control rules aimed at liberalizing currency relations and devaluing the economy.

On July 31, 2020 the amendments to Federal Law No. 115-FZ entered into force. In 2020 these amendments allow Russian LLCs to hold annual shareholders’ meetings in form of remote voting, on which the yearly reports and balance sheets must be confirmed.

If you plan to start a business in Belarus, you should consider the changes in the issues of approving the names of legal entities, state registration, termination of activities of legal entities and individual entrepreneurs, maintaining the Unified State Register of Legal Entities and Individual Entrepreneurs of the Republic of Belarus (hereinafter – “EGR”), provided for by the Resolution No. 96 of the Ministry of Justice of the Republic of Belarus, dated June 18, 2020 (hereinafter – the “Resolution”).

On March 25, during a televised address Russian President Vladimir Putin mentioned that a revision with the Double Taxation Treaties (hereinafter – the “Treatу / Treaties”) with those jurisdictions would be required which are used for the inadequate transfer of income from Russia.

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.