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Appendix: Selected Russian Taxation Legislation*

Appendix: Selected Russian Taxation Legislation* 59 APPENDIX: SELECTED RUSSIAN TAXATION LEGISLATION* Letter Of the Russian Federation State Tax Service "On Several Issues Regarding the Taxation of Foreign Investment" 2 June 1994 No.BG-4-06/68N Rossiiskie Vesti, 29 June 1994 In response to a number of inquiries received from enterprises, foreign investors, and tax agencies on the application of Russian Federation tax legislation concerning foreign investment, the State Tax Service of the Russian Federation and the Russian Federation Ministry of Finance offers the following explanations: 1. In accordance with section 5 of the Russian Federation Presidential Edict No. 2270 of 22 December 1993 "On Several Changes in Taxation and in Inter-relations between Budgets of Different Levels", profit spent on financing in the form of share participation in capital investment for manu- facturing and non-manufacturing purposes, as well as the repayment of bank credits, received and used for these purposes is exempt from taxation. 2. In accordance with sub-section "e" of section 1, article 5 of the Russian Federation Law No. 1992-1 of 6 December 1991 "On the Value Added Tax", operations involving the payment and transfer of loans are exempt from VAT. Thus, credit in foreign currency received by taxpayers from foreign banks or credit institutions http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Central and East European Law Brill

Appendix: Selected Russian Taxation Legislation*

Review of Central and East European Law , Volume 21 (1): 59 – Jan 1, 1995

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Publisher
Brill
Copyright
© 1995 Koninklijke Brill NV, Leiden, The Netherlands
ISSN
0925-9880
eISSN
1573-0352
DOI
10.1163/157303595X00138
Publisher site
See Article on Publisher Site

Abstract

59 APPENDIX: SELECTED RUSSIAN TAXATION LEGISLATION* Letter Of the Russian Federation State Tax Service "On Several Issues Regarding the Taxation of Foreign Investment" 2 June 1994 No.BG-4-06/68N Rossiiskie Vesti, 29 June 1994 In response to a number of inquiries received from enterprises, foreign investors, and tax agencies on the application of Russian Federation tax legislation concerning foreign investment, the State Tax Service of the Russian Federation and the Russian Federation Ministry of Finance offers the following explanations: 1. In accordance with section 5 of the Russian Federation Presidential Edict No. 2270 of 22 December 1993 "On Several Changes in Taxation and in Inter-relations between Budgets of Different Levels", profit spent on financing in the form of share participation in capital investment for manu- facturing and non-manufacturing purposes, as well as the repayment of bank credits, received and used for these purposes is exempt from taxation. 2. In accordance with sub-section "e" of section 1, article 5 of the Russian Federation Law No. 1992-1 of 6 December 1991 "On the Value Added Tax", operations involving the payment and transfer of loans are exempt from VAT. Thus, credit in foreign currency received by taxpayers from foreign banks or credit institutions

Journal

Review of Central and East European LawBrill

Published: Jan 1, 1995

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