On Apr. 2, 2025, RUS Tax announced deadline for individuals to submit notifications of controlled foreign firms for 2024 is Apr. 30, 2025 regardless of financial performance.
On Apr. 15, RUS Tax reminded of controlled foreign firm tax deadline.
RUS Tax announced that individuals are required to submit notifications of controlled foreign companies (CFC) for 2023 by May 2, 2024 regardless of financial performance.
Summary
If there are grounds for exemption from tax of profits of such a firm, documents confirming compliance with relevant conditions must be submitted by the deadline.
An exception is a CFC formed in accordance with the legislation of a member state of the Eurasian Economic Union (EAEU) and having a permanent location there.
If there are no grounds for exemption from taxation of controlled foreign companies profits, it is necessary to submit documents confirming the amount of its profit or loss.
This must also be completed before May 2, 2024 deadlline regardless of whether the amount of the CFC’s profit complies with clause 7 of art. 25.15 of the Tax Code or not.
Failure to submit a notice of a CFC, a fine in the amount of 500k RUB is imposed.
Effectiveness
Tax reporting is expected by May 2, 2024.
Apr. 2025 New Deadline
On Apr. 2, 2025, RUS Tax announced deadline for individuals to submit notifications of controlled foreign firms for 2024 is Apr. 30, 2025 regardless of financial performance.
