# 3. Autumn Marathon

When making a decision to purchase property (fixed assets) under the financial lease (leasing) agreement, a business owner rarely thinks about peculiarities of accounting and tax consequences that this method of acquisition will entail. In the financial lease agreement, it is necessary to indicate on whose balance sheet a leased asset is accounted, as this affects­ accounting and tax accounting of the purchased car.

In preparation of financial statements in accordance with IFRS (International Financial Reporting Standards) for 2018, all companies faced with a new financial instrument accounting standard IFRS 9. Financial instruments have traditionally raised the greatest number of questions and presented many challenges. IFRS 9 mandatory for use since January 01, 2018, was intended to eliminate the shortcomings of then applicable IAS 39, simplify the logic of classification of financial ins [...]

In June 2019, Russia started the third stage of the capital amnesty, which will last until 29 February 2020. The main condition for the current amnesty was the return of the declared assets to their homeland. It should be noted that not all assets are subject to repatriation, but only funds deposited in foreign accounts and foreign companies, which are to be redomiciled to the Russian Federation. Redomiciliation is a mechanism for changing a company’s jurisdiction and transferri [...]

Since 2013, when the OECD published its report on combating corporate tax base erosion and profit shifting to low-tax jurisdictions, commonly known as the BEPS plan, we have repeatedly returned to issues associated with implementation of the BEPS plan in the pages of “Korpus Prava.Analytics”. One of the topical subjects of the current year is requirements of offshore jurisdictions for organization of economic substance. In this article, we will try to answer the questions as to what it means, what is the reason for their introduction, whether they should be observed and what to do next.

In May 2019, the Federal Tax Service summarized the law enforcement practice in disputes in which the tax authorities established that international agreements had been abused. In particular, the concept of “person beneficially entitled to income (beneficial owner)” is widely used as a universal instrument to combat abuse.

A few years ago, the procedure of opening a bank account for business was not unusual and was not associated with any complex procedures. Relations between businesses and banks were based on trustworthy partnership, but in recent years the world has changed a lot.

These rays of the star of doom can be categorized into reasons closely tied to the family itself, ranging from bad investment or business advice to bad implementation, bad business decisions, divorce — Mr Bezos comes to mind — family conflict, which sometimes even blocks a family business from thriving, no mutually shared family values, no discipline, family fertility with many offspring, which have to divide the inheritance, expensive lifestyles, expensive hobbies, drug addiction and drug abuse to mental insanity.