Political and economic factors continue to rock the transaction boat
International Tax Review
Transactional work varies from jurisdiction-to-jurisdiction with the ebb and flow of various economic cycles, but a prevailing theme across the EMEA region has been that more and more advisory firms are urging taxpayers to prepare for the impact of the OECD’s base erosion and profit shifting (BEPS) action plan. Situation in Russia had been commented by Artem Toropov, a senior associate in Goltsblat's international tax practice:"Many old structures would simply not work now, or expose selling shareholders to significant risks. <…> "One of the trends in the market is to go for less aggressive transactional structures or avoid the offshore element completely. Many taxpayers prefer paying Russian tax in full on income from M&A transactions as opposed to accumulating risks of subsequent challenge of such transactions."
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