Taxation of dividends paid out of undistributed profits of previous years

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The Supreme Arbitrazh Court of the Russian Federation clarified some matters considering taxation of dividends paid out of the undistributed profit of prior years in decision No. VAS-13840/12 dated 29.11.2012 (hereinafter the “Decision”).

The Decision was made on a claim of OJSC “Sibirskaya energeticheskaya kompaniya” (hereinafter the “Company”): the Company challenged the legitimacy of the Ministry of Finance of the Russian Federation’s Letter No. 03-03-10/34 dated 04.04.2012 (hereinafter the “Letter”).

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Published In: Tax Updates