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19 April 2022	SPIC 1.0. Investors are given back the proven mechanism and the right to extend contracts due to the sanctions On 14 March 2022, a law came into force reviving the SPIC 1.0 mechanism for new investment projects, and allowing extending the terms of contracts already concluded due to foreign sanctions. The amendments were developed by the Government as part of a package of anti-crisis measures. As part of the development of this law, the Government has also clarified the rules for concluding SPIC 1.0. The updated rules came into effect on 1 April 2022. Alexander Sitnikov, Managing partner Maxim Grigoryev, Partner, Head of Southern directorate, Head of special projects Alexandra Vasyukhnova, Partner, Head of Technology and Investment group Natalia Abtseshko, Head of International projects group Artem Gasparyan, Senior associate of Southern directorate * * I hereby give my consent for the processing of my personal dataAgreement Send
4 August 2020	Russia to initiate termination of double tax treaty with Cyprus In early April, Russia sent a letter offering to amend the text of the agreement on avoidance of double taxation (DTT) by increasing tax rates in terms of taxable dividends and interest payments to Cyprus. However, after almost four months of negotiations, the parties failed to reach a consensus. According to the information published by the Russian Ministry of Finance, with due regard to close economic and historical ties between the two states, the Russian party formulated options for a compromise and offered to swiftly hold (the ongoing week) face-to-face negotiations in Cyprus but received a refusal. Consequently, Russia’s Ministry of Finance announced that it would initiate denunciation of the DTT. Alexander Sitnikov, Managing partner Yuriy Ivanov, Head of Tax practice * * I hereby give my consent for the processing of my personal dataAgreement Send
13 November 2017	Advertising legal requirements (Practical overview) Advertising is a socioeconomic phenomenon whose uniqueness is marked by the continuous development of techniques and methods to share advertising information with consumers. Companies are always moving forward, creating new approaches how to produce advertising. This requires advertisers to be guided by law enforcement practices. This alert does not presume to analyze the entire scope of legal requirements and constraints that cover advertising, but it is intended to provide a brief practical overview of the main legal restrictions for advertising. * * I hereby give my consent for the processing of my personal dataAgreement Send

12 August 2020	Double Taxation Avoidance Agreement with Cyprus will be preserved As it became known earlier, during the negotiations Cyprus agreed to the conditions of Russia to amend the agreement on the avoidance of double taxation in terms of increasing the withholding tax to 15% in respect of dividends and interest. All of us are now waiting for the new reality of the Cyprus offshore. The same goes for Malta and Luxembourg. According to information from Deputy Finance Minister Alexei Sazanov, these countries "in general" agreed to the conditions proposed by Russia to revise tax agreements. Who will be next in line? Find the answer in a brief analysis by VEGAS LEX. Alexander Sitnikov, Managing partner Yuriy Ivanov, Head of Tax practice Khati Abdurakhmanova, Associate of Tax practice * * I hereby give my consent for the processing of my personal dataAgreement Send
13 August 2019	SPIC 2.0: Mechanism for development of innovations and introduction of modern technologies On 2 August 2019, the President of the Russian Federation signed a legislative package concerning significant reforms for the mechanism of special investment contracts. Amendments refer to legal regulation in industrial policy and affect tax and fiscal legislation. In this review, VEGAS LEX experts have analyzed changes, goals and prospects of the updated SPIC mechanism. Alexander Sitnikov, Managing partner Maxim Grigoryev, Partner, Head of Southern directorate, Head of special projects Alexandra Vasyukhnova, Partner, Head of Technology and Investment group Natalia Abtseshko, Head of International projects group Artem Gasparyan, Senior associate of Southern directorate * * I hereby give my consent for the processing of my personal dataAgreement Send
13 October 2016	The alcoholic products market: actual problems, regulation, litigation The alcohol market occupies a leading position among the other branches of the food sector in Russia, bringing considerable income into the state budget. During the years 2012-2014, as a result of a sharp increase in excise rates on alcoholic beverages, and the general deterioration of the economic situation, retail sales of alcohol in Russia decreased by almost one quarter, due to outflow of consumers to the illegal sector. In this regard, the Federal Service for the Regulation of the Alcohol Market in Russia has taken a number of measures, which in 2015, were able to halt the decline in retail sales of alcoholic beverages Natalia Abtseshko, Head of International projects group * * I hereby give my consent for the processing of my personal dataAgreement Send

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