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Clifford Chance

Clifford Chance
Briefings

Briefings

Russia Changes Interest Deductibility Rules in Light of New Economic Reality (Russian)

10 March 2015

This briefing discusses the

1. Federal Law No. 32-FZ of 8 March 2015 (the "Amendment Law"), which applies retroactively from January 2015 and modifies the interest deductibility rules in the aftermath of the significant depreciation of the Russian Rouble in 2014 followed by the dramatic increase of the prime rate by the Central Bank of Russia ("CBR"); and
2. further amendments to the thin capitalization rules which are currently being considered by the Russian Parliament.

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