Source Pravda.Ru

Tax Code Amendments On Product-sharing Agreements To Be Considered Soon

Amendments to the Russian tax code concerning product-sharing agreements will be submitted to the State Duma by the end of November, Economic Development and Trade Minister of the Russian Federation German Gref reported after discussing this issue at a government session today. According to him, these amendments will concern the problem of avoiding double taxation in the direct 50/50 product sharing in natural form (for example, one ton of oil or 1,000 cubic meters of gas are divided equally). The problem is that investors have to receive a document from Russian companies that they had pay taxes in the country where they received goods and show this document in the country of their residence.

Representatives of the North Korean administration issued a statement saying that the United States and its allies have lost the "political and military confrontation" to the DPRK

North Korea declares victory over USA
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