#3. Tinker Tailor Soldier Spy or Identification of Beneficial Owners by Russian Courts

Dear readers,

I am pleased to welcome you on the pages of our autumn issue of “Korpus Prava. Analytics”. This issue is dedicated to the concept of an actual income recipient.

Our Senior Lawyer Alexey Oskin has prepared an article, where he covered the issues of the concept, beginning from its history and reviewed the real legal proceedings conducted in the Russian Federation. We recommend you to pay attention to this topic as it is actual and concerns all Russian companies involved in monetary transactions with foreign contractors, while enjoying the advantages of tax agreements.

Our specialists have examined the world problem of tax base erosion and profit shifting. In this issue, you will find materials on the action plan developed by OECD and the Group of Twenty (G20). The new, 4th EU Directive aimed at combating money laundering and terrorism financing has also been examined in the new issue.

We have considered Hong Kong as a favorable place to do business in Asia. You will see why it is more profitable to start your business in Hong Kong, but not in China, find out about the requirements to accounting and tax returns.

Sanctions and countersanctions have been a major topic for discussion among the politicians and housewives for two years. Korpus Prava specialists have analyzed the problems and perspectives of international isolation of the Russian economy. Of course, some issues still remain open and one can only guess…

Korpus Prava team seeks to include the most actual and interesting topics in the issue, we give constant consideration to various ideas of our subscribers and follow the trends in the professional environment. If you have any ideas or comments, please, feel free to contact us by any means convenient for you.

See you soon on the pages of “Korpus Prava. Analytics”.

Artem Paleev
Managing Partner
Korpus Prava

Irina Kocherginskaya, LL. M.

Managing Director

Tax and Legal Practice

Korpus Prava

Anti-money laundering and anti-terrorism financing methods and forms (hereinafter – AML) have evolved along with the crimes against which they are aimed. Updating these measures and forms is a task that remains in the agenda of both government and non-government organizations of the world.

Antonis Karitzis

Advocate — Legal Consultant

Managing Director

A. Karitzis & Associates L.L.C.

Cyprus has one of the largest registered merchant fleets of the World. This achievement has been accomplished due to the many advantages of the flag. Cyprus offers a very attractive package of economic advantages and a wide range of professional services and therefore is classified among the best shipping countries in the world.

Olga Kuramshina

Ex-Leading Lawyer

Tax and Legal Practice

Korpus Prava (Russia)

Notorious events in the Crimea and in the southeast of Ukraine have caused major changes in European and American economic policy concerning the Russian business and, subsequently and promptly, reciprocal measures on the part of the Russian administration.

Leonid Kunin

Ex-Senior Lawyer

Tax and Legal Practice

Korpus Prava (Russia)

People and mass media named this law "tax amnesty" long before it was executed and even before the bill was introduced to the State Duma. This law was anticipated, logical and, what's more important, it was mentioned by the President in his Address to the Federal Assembly.

Sunny Adeel

Corporate Administrator

Corporate Services

Korpus Prava (Hong Kong)

Hong Kong has grown from a fishing village with an unpopulated territory in the early nineteenth century to become one of the most important financial centers of the world with a population of seven million. Before achieving the status Hong Kong has today, it has gone through various transitions.

Yana Karausheva

Ex-Junior Lawyer

Tax and Legal Practice

Korpus Prava (Russia)

This article continues a series of publications about the system of imposition of value-added tax in the European Union. This issue is dedicated to a number of court decisions adopted by the highest judicial authority of the European Community regarding VAT imposition in 2013-2015.

Anna Senchenko, LL. M.

Leading Lawyer

Tax and Legal Practice

Korpus Prava (Russia)

For years the Organisation for Economic Co-operation and Development (OECD) has advocated a policy of improved international tax co-operation between governments.

Alexey Oskin

Deputy Director

Tax and Legal Practice

Korpus Prava (Russia)

In the context of the present-day reality, the regulatory agencies start paying closer attention to all the financial transaction and money payments performed by the residents of the Russian Federation in favor of the foreign counterparties. If earlier taxpayers could count on protection from our law enforcement agencies, now they may no longer rely on judicial protection when such cases are considered.

Irina Otrokhova

Chief Compliance Officer

Corporate Services

Korpus Prava (Cyprus)

The KYC procedure is based on the risk estimations as well as basic identity information for customer identification. The companies aim to assess the risk of each individual customer's involvement in illegal activity.