Russia Issues Guidance Letter on Document Submission Requirements for Confirming CFC Profit (Loss)

The Russian Ministry of Finance recently published a guidance letter concerning the documentation submission requirements for confirming the profit (loss) of a controlled foreign company (CFC). The letter includes that the profit (loss) of a CFC may either be recognized as the amount of profit (loss) according to the CFC's financial statements for the relevant year or according to the rules established in Chapter 25 (Corporate Income Tax) of the Russian Tax Code for Russian organizations. Fur…