Russia is one of the major players in the world’s natural resources market. Alexander Krylov and Mikhail Sergienko of Deloitte provide an overview of key industry characteristics and players, consider recent legislative developments, and look at various business forms in the taxation of oil and gas activities.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
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