Putin signs law postponing disclosure of participation in foreign companies

Russian President Vladimir Putin has signed the law postponing the deadline for submission of notices on participation in foreign entities from April 1 to June 15, the official Kremlin website reported.
According to amendments, the Russian resident taxpayers should file such notices to the tax authorities by June 15, 2015.
Submission of a notice within the de-offshorization framework is not needed in case of dissolution of a controlled foreign corporation (CFC) or termination of participation in the CFC within the period from January 1 to June 15, 2015. Owners of foreign companies that have terminated or sold their participation by June 15 will be exempted from the duty to submit notices.