Capital flight to offshore and low-tax jurisdictions is one of the main challenges and threats faced by a modern economy. According to the OECD's report dated Feb. 12, 2013, "Addressing Base Erosion and Profit Shifting," modern international tax planning has become a threat to the world economy given the scale on which so many companies are using offshore instruments to avoid paying taxes.
Pepeliaev Group has announced that the Supreme Arbitration Court approved an agreement of lawsuit between a taxpayer and a tax authority. In fact, this agreement is the first that has been concluded with the tax authority, because the tax authority has never met the needs of taxpayers even when it could be more than profitable for government budget. This new development gives hope that the Finance Ministry and the Russian Tax Authority have changed their strict and inflexible policy for taxpayers.