CrimeaPRESS reports:
The tax service of Sevastopol notes: in accordance with the current legislation, Russians are obliged inform tax service on foreign accounts and on the movement of funds on them.
In addition, individuals — tax residents of the Russian Federation, who have controlled foreign campaigns, are required to annually send to the tax inspectorate special notifications.
In connection with the increase in the declaration of foreign currency accounts opened by individuals, the Department of the Federal Tax Service for the city of Sevastopol reports the following.
In the event that the opening of foreign currency accounts by individuals outside the Russian Federation is associated with the creation and implementation of the activities of a CFC (such as financing a CFC, making transfers of funds from the activities of a CFC, receiving dividends from a CFC, etc.), it is necessary to promptly notify tax authorities (submit a notice of participation in a foreign organization (structure) at the place of residence for individuals) in order to comply with tax legislation in accordance with Chapter 3.4 of the Code “Controlled foreign companies and controlling persons”.
When establishing a foreign company, it is necessary submit a notice in the form of KND 1120411, then annually provide a notification in the form of KND 1120416.
Note that a controlled foreign company (CFC) is any foreign organization (foreign structure), the controlling person of which is a Russian resident — an organization or an individual (Article 25.13 of the Tax Code of the Russian Federation (hereinafter referred to as the Code)).
An organization or an individual is a controlling person in 3 main cases:
- if the share of direct or indirect participation in a foreign organization (hereinafter — IO) is more than 25%;
- the share of all Russian residents together is more than 50%, and the share of an organization or individual (for individuals together with spouses and minor children) is more than 10%;
- in case of actual control of a foreign company by an organization or individual (Article 25.13 of the Code).
Detailed information is available in the section “Controlled Foreign Companies and Controlled Persons” on the official website of the Federal Tax Service of Russia.
For questions related to the declaration of information in relation to foreign organizations on the territory of other states (including the EAEU), you can contact the Federal Tax Service of Russia for Sevastopol at the address: Sevastopol, st. Kulakova, 37
source: Federal Tax Service of Russia in Sevastopol
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