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    The Russian taxation system is on its way from conception to maturity. With the Russian Tax Code the taxation rules have become much clearer, but in spite of the initial clarity the Russian taxation system is only taking form in the activity of law which can be described as a competition of arguments. Increasingly we feel that the provisions of the Tax Code (i.e. the arguments of the lawmaker) are challenged by the arguments expressed in legal practices, i.e. the interpretations and actions by the taxation authorities, business usages, and, last but not least, authoritative statements, culminating in the strong arguments by the supreme courts. This book will guide the investor and other interested readers to understand the resulting present day Russian taxation system. Together with a general overview of all the most important provisions of the law we deal at a practical level with details affecting investment choices, financing, repatriation of profits and day-to-day financial management issues. The book describes the framework of the taxation system covering the rights and obligations of both taxpayers and taxation authorities. All the taxes are presented and explained: the Corporate Profit Tax, the VAT, Personal Income Tax, Social Tax and others. Extra emphasis is placed on complex matters such as financing choices, leasing, thin-capitalization rules, transfer pricing, permanent establishments and other key issues in taxation. '

    This is the third thoroughly expanded, updated and improved edition of the Avenir Guide to Russian Taxes, following the groundbreaking first edition of 2002 and the second updated edition of 2003. This time this book is a project of Avenir — Publications which has signed up Hellevig, Klein & Usov attorneys at law for the producing the contents. The authors of the book are Jon Hellevig and Artem Usov, partners with the law firm. Dr. Alexander Vereshchagin has conducted a thorough research of all the relevant themes and served as the editor for this present edition.

    We hope that the Avenir Guide to Russian Taxes will continue to enhance the understanding of the Russian taxation laws and serve as an excellent reference guide to practical matters being a real aid in work for directors, controllers, legal counsels and other managers of companies, as well as students and anybody that wants to know how taxes are levied in Russia.

About the authors

The authors of the book are Jon Hellevig and Artem Usov, partners with the law firm Hellevig, Klein & Usov Llc. Dr. Alexander Vereshchagin has conducted a thorough research of all the relevant themes and served as the editor for this present edition.

Jon Hellevig has been actively working on the Russian market since 1990 for in the filed of law, taxation and financial administration.

He specializes in investment consulting, tax and corporate law and human resources (including labor law). Jon Hellevig is the author of ?Expressions and Interpretations? (2006) on philosophy and philosophy of law. He has also written the ?Avenir Guide to Russian Taxes? (Published in English in 2002 with updated edition in 2003 and Russian edition in 2003) and the ?Avenir Guide to Russian Human Resources? (Russian and English editions in 2002 and 2003). He regularly lectures at international seminars on topics of his specialization.

Before entering the Russian market he worked at banks in Finland, first in legal positions, but later in more finance relate and managerial positions.

Jon has a University degree in Law from the University of Helsinki, Finland (1985). In 1998 he acquired an MBA with the Ecole Nationale des Ponts et des Chaussees and University of Bristol Graduate School of International Business with KPMG European Training Center, 1998

Jon Hellevig is fluent in English, Russian, Swedish and Finnish and has knowledge of Spanish, German and French.

Jon was born in February 26, 1962 in Helsinki, Finland and is married and has two daughters.

Artem Usov joined Avenir in 2002 and is presently a Partner at the company and has major field of specialization in tax and corporate law of Russia. Artem is a graduate from the Russian Tax Academy. Presently he is finishing his Ph.D. with the thesis Major Contract Terms. Artem co-wrote the second edition of ?Avenir Guide to Russian Taxes? (published in 2003). Artem is the co-author of ?Avenir Guide to Russian Taxes? and ?Avenir Guide to Russian Human Resources?. Artem is fluent in English in addition to his native Russian.

Dr. Alexander Vereshchagin joined the company as a Senior Associate in 2005. He earned his first scientific degree (in legal history) in 1997 from the Moscow State University, of which he is also a graduate. In 2004 he received Ph.D. in Law from the University of Essex for his research on the development of judge-made rules in the Russian legal system (in particular commercial law), thus becoming the first Russian lawyer who obtained doctorate in Britain. He is the author of three books and many articles on socio-legal topics.