14 June 2019

For the first time since 2011, Gazprom's capitalization exceeded 5 trillion Roubles (about EUR 68 bln). The reason, say the experts, is the decision of the Board of Directors dividends distribution.

12 June 2019

The country reduces its dependence on the U.S. dollar. Due to the lingering sanction risks, Russia keeps buying gold. This year the country bought more of this precious metal than anyone in the world. However, other countries also continue to increase their reserves.

11 June 2019

Before April 2020, 46 Russian banks may lose their licenses, a group of experts from a number of Russian rating agencies concluded. The pessimistic forecast will not affect only the top-20 credit institutions. According to the estimates, a default threatens 10.9% of the existing banks. The main reasons for revoking banking licenses in the next year, according to the study, may be violation of the requirements of anti-laundering legislation, understatement of accepted risks and withdrawal of liquid assets to the detriment of creditors' interests.

05 June 2019

Recently, the European Union has blacklisted 15 countries that did not meet the criteria of economic component under the BEPS (Base erosion and profit shifting) programme. After a while, three jurisdictions - Aruba, Barbados and Bermuda - have adopted amendments to their legislation, which has given rise to rumours of their early exclusion from the black list in the near future.

03 June 2019

Russian President Vladimir Putin signed a Federal law ‘On ratification of the multilateral convention on the implementation of measures related to tax treaties to counteract erosion of the tax base and concealing profits from taxation’. The new measures are aimed at companies to prevent the attempts to misrepresent the tax base and high-risk transactions in order to avoid additional taxation.

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