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AmCham Holds Annual Tax Conference

The American Chamber of Commerce in Russia held its annual Tax Conference on November 18 at the Baltschug Kempinski Hotel in Moscow. Following opening remarks by AmCham President & CEO Alexis Rodzianko, RF Deputy Minister of Finance Sergey Shatalov briefed over 125 AmCham executives on recent and planned changes to Russian tax policy designed to promote business development in the short- and medium-term.

[Photograph: RF Deputy Minister of Finance Sergey Shatalov addresesing over 125 AmCham executives on November 18]

Following Mr. Shatalov's remarks, eight AmCham member company tax experts presented on a wide range of important issues. Presentations were made by Vladimir Elizarov (Deloitte), Vladimir Konstantinov (PwC), Arseny Seidov (Baker & McKenzie), Victor Matchekhin (Linklaters), Art Franczek (American Institute of Business and Economics), Ivan Rodionov (EY), Gennadiy Timonichev (Pepeliaev Group), and Sergei Voropaev (Deloitte).

The presentations are available here in .pdf format.

AmCham thanks EY and MasterCard for sponsoring the event.

Upcoming Events

AmCham Meets Ministry of Communications and Mass Media

On Tuesday, October 14, 2014, AmCham led a small delegation of AmCham executives for a round table with Alexei Sokolov, Deputy Minister of Communications and Mass Media, and other Ministry officials. The purpose of the round table was to discuss Federal Law No. 242-FZ, which introduces new requirements that personal data of Russian citizens must be stored in data centers located in Russia. The AmCham delegation raised several key concerns regarding the legislation, including timing and cost issues, definitions of “personal data,” and technical aspects of complying with the law.

AmCham Briefing on U.S. Sanctions & Potential Lapse of EU Sanctions

The American chamber of Commerce in Russia held a briefing on October 29 on recent developments with respect to U.S. sanctions and terms and conditions for abrogation of European sanctions.

Kyle Davis (Partner, Goltsblat BLP) briefed members on the Corker-Menendez Bill - legislation that imposes broad sanctions on Russia’s defense, energy, and financial sectors, and increases military and non-military assistance for Ukraine. The legislation was unanimously passed by the Senate Foreign Relations Committee on September 18 having been introduced by Chairman Robert Menendez (D-NJ) and Ranking Member Bob Corker (R-TN).

Following the discussion of U.S. sanctions, Fredrik Svensson and Fredrik Ringquist (Partner and Senior Associate, Mannheimer Swartling) spoke on the potential lapse of EU Sanctions in July 2015 and the terms and conditions necessary for it to happen.

Over 70 AmCham executives filled the AmCham conference room to capacity for the event, which was moderated by AmCham President & CEO Alexis Rodzianko.

AmCham Member Sanctions Analysis

AmCham Member Sanctions Analysis is a new section of the AmCham website that provides a platform for AmCham members to share their analysis of sanctions against Russia. The section will be updated on an ongoing basis to reflect new developments and will serve as an information resource to help AmCham member companies guage the potential impact on their business operations in Russia.

U.S. Treasury Hotline on Operation of U.S. Sanctions

AmCham members with specific questions regarding the operations of U.S. sanctions related to the Ukraine crisis may use the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) compliance hotline at 1.800.540.6322 or present inquiries for formal interpretive guidance by e-mail to ofac_feedback@treasury.gov.

Front Page Archive

Looking for an article you saw on the front page of the AmCham website but can no longer find it? Check out the AmCham Front Page Archive.