#1. Amendments in Legislation Enforced in 2020

Dear readers,

Welcome to the pages of this year’s first issue of Korpus Prava.Analytics.

As usual, in our winter issue, we highlight numerous changes that have been introduced into legal regulations of the Russian legislation this year. For instance, you will find a complete updated list of income exempt from income tax and learn about the features of the law regulating relations arising from investing through crowdfunding that comes into force.

In the article written by Anna Senchenko, Leading Lawyer, you will get answers to frequently asked questions about Cyprus, namely: why to become a Cyprus tax resident and how to do it, what are the features of transfer pricing on the island, what are the conditions subject to which a foreign company is considered to be controlled.

Last year, the currency legislation underwent a number of changes — amendments were made twice. The article written by Tatiana Frolova, Leading Lawyer of Korpus Prava Private Wealth, where all innovations are described in details — those that entered into force in 2019 and those to be adopted in 2020 — will help you deal with those changes.

In addition to legal practice, in this issue you will also find out about innovations concerning accounting and taxes that were summarized by Viktoria Dordzhi-Goryaeva, Audit Practice Specialist.

I hope that the materials of the issue will be most useful for you and your business. We look forward to your suggestions and questions that we will try to analyze in our next issue or news article on our website / Facebook page.

Have a nice and useful reading!

Artem Paleev
Managing Partner
Korpus Prava

Ekaterina Pazemova

Master of International Private Law

Legal and Tax Advisor

Saint-Gobain Group

2019 was full of events in the legislative and enforcement spheres. Novation has affected particularly the scope of international private law.

Viktoria Dordzhi-Goryaeva


Audit Practice

Korpus Prava (Russia)

From January 01, 2020, tax authorities will maintain the State Information Resource of Accounting Statements (GIRBO). The Law No. 247-ФЗ dated 26.07.2019 establishes the procedure for submission of the accounting statements (including amended statements) to the GIRBO.

Roman Moskovskikh


Tax and Legal Practice

Korpus Prava (Russia)

In the traditional annual review article devoted to innovations in the legislation of the Russian Federation, we have collected for you the most interesting short stories of the Russian legislator that will come out in 2020.

Tatiana Frolova

Leading Lawyer

Korpus Prava Private Wealth

One of the innovations that completely changed the current practice was the introduction of liability for illegal currency transactions in the form of a fine amounting to 75 to 100 % of the amount of the currency transaction.

Anna Senchenko, LL. M.

Leading Lawyer

Tax and Legal Practice

Korpus Prava (Russia)

In this article you will find answers to many questions regarding residency,controlled foreign companies, and transfer pricing in Cyprus.

Alexey Oskin

Deputy Director

Tax and Legal Practice

Korpus Prava (Russia)

The past year of 2019 was quite rich in tax disputes concerning the issues of determining and qualifying a beneficial owner of income. In this article, we offer a review of key court decisions made in 2019. At the same time, in this article we will only pay attention to the arguments made by regulatory authorities and courts.

Ekaterina Sechkareva

Junior Lawyer

Tax and Legal Practice

Korpus Prava (Russia)

In 2019, major changes for the recent years — the so-called procedural revolution — took place. On October 1, three key laws that reform the system of general jurisdiction courts and change the rules of court procedure came into force.

Julia Vints


IFRS Practice

Korpus Prava

Tax profit can be fundamentally different from accounting profit. In this article, we will consider situations that are not so obvious but occur quite often, like when a company incorporated in Cyprus has differences between accounting profit and tax profit.

Irina Otrokhova

Chief Compliance Officer

Corporate Services

Korpus Prava (Cyprus)

Rumors regarding the introduction of an electronic register of beneficiaries in European jurisdictions have been around for a long time and finally, they have become real. On May 30, 2018, the European Union issued Directive 2018/843 amending EU Directive 2015/849 dated 20.05.2015.