[SEE THE POINT] Amendments to chapter 25 of the RF Tax Code related to shareholders were passed in the first reading

The point at issue is draft federal law No 442400-7, which is to propose making amendments to article 43 of the Tax Code on dividends and interest. The difference between the value and size of the contribution received by a participant (shareholder) upon withdrawal from the entity or its liquidation will be regarded as dividends.

Money received by a participant (shareholder) on a gratuitous basis within the amount of his/her contribution will not be taxable under income tax.

The loss that the participant incurs due to liquidation of the entity may be recognized in non-operating expenses for the purpose of taxation of profit. We would like to remind that recognition of such a loss is now rather risky.

The draft law also provides for other amendments, in particular, regarding limitation of the amount of penalty and controlled foreign entities.

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