As part of the Russian Business Week, on 5 February the Tax Forum announced the launch of the Corporate Tax Award 2018 competition. The application period will run from 5 February through 30 April 2018.
When speaking at the Tax Forum, Alexander Shokhin, President of the Russian Union of Industrialists and Entrepreneurs (RSPP), highlighted the importance of the competition for development of tax practices and urged both RSPP members and a wider range of companies to participate in the competition.
Ekaterina Lazorina, PwC Partner, noted that in 2017 many positive feedbacks and initiatives were received from Award-seeking applicants. Following contestants’ feedbacks, in 2018 the competition will be held along with the Tax Function Benchmarking, a study of corporate tax processes the findings of which will be made available to its participants.
The 2018 Corporate Tax Award’s Expert Panel held its first meeting on 5 February 2018.
This year, the Expert Panel members include last year’s winners Olga Emelyanova (PAO Inter RAO), Vladimir Murzin (PAO Moscow Exchange) and Pavel Kolomenskiy (OOO Polyus Management Company), as well as representatives of the academic community and business associations.
The Expert Panel approved the dates for the competition in 2018, its methodology and application forms.
On 15 December 2017, the Russian Union of Industrialists and Entrepreneurs (RSPP) and PwC hosted a round table based on the results of the Corporate Tax Award. The round table's discussion topic: Corporate Tax Function – Development Trends.
The round table considered the matters that are of interest to the managers and staff of tax functions and put forward ideas for modernisation and suggested approaches that may be used to solve challenging issues. The participants contributed their stories of implemented tax projects, achievements in the design of tax processes, considerations for the tax functions’ transfer to Shared Service Centres (SSC) and discussed other topics related to corporate tax function.
The winners were announced and awarded at the Corporate Tax Award 2017 ceremony, which was held in Moscow on 11 October 2017 as part of the Board meeting of the Russian Union of Industrialists and Entrepreneurs (RSPP).
The Grand Prix was awarded to the tax team of PAO Inter RAO, which won the award in the Tax Team of the Year nomination. Representatives of ZAO Interfax, PAO Gazprom neft, AO PhosAgro-Cherepovets, OOO UK Polyus and PAO Moscow Exchange also became the Corporate Tax Award 2017 winners in key nominations.
On 19 September 2017, the expert panel met to count the votes and name this year's Corporate Tax Award winners. Awards will be given to the winners of the four main categories: Tax Team of the Year, Tax Project of the Year, Active Involvement in Tax Practice and Tax Law Development, and Effective Use of SSC for Tax Functions. There will also be a special award, For Contributions to Improving the Tax Climate in Russia and Fostering Effective Government-Business Cooperation on Tax Matters, and the Grand Prix will go to the nominee who received the highest total score. The expert panel will also give a special award, For Contributions to Strengthening the Prestige of the Tax Profession, to one of the participants.
The awards ceremony will take place during the meeting of the management board of the Russian Union of Industrialists and Entrepreneurs (RSPP) on 11 October 2017.
We would like to invite you to participate in the online voting for candidates in the “Valuable Contribution to Tax Practice and Tax Legislation Development” award category of the Corporate Tax Award. In this nomination group, the winner will be chosen based on an assessment of their contribution to the development of tax practices and tax legislation, as well as their business standing, public activity and media coverage. Please follow the link to cast your vote.
The voting will be held from 24 July to 4 August.
The expert panel of the Corporate Tax Award held a meeting on 18 July. The meeting’s participants discussed the assessment methodology and the next steps in the evaluation process, and they reviewed candidates for a special award category.
The contest participants have submitted their questionnaires and the experts are now voting.
At a recent meeting, the expert panel of the 2017 Corporate Tax Awards considered the eligibility of certain companies to participate in the competition. The discussion covered the potential for conflicts of interests to arise between Award participants and members of the expert panel. In 2017, ZAO Interfax is represented on the expert panel as well as by a competing team. Furthermore, the expert panel includes employees of OAO Otkritie Holding and OAO RZD, while teams from their subsidiaries (OAO Otkritie Broker and OAO RZD Trade, respectively) have filed applications to participate in the competition.
The expert panel made the following decision by a majority vote: The above companies may participate in the competition, but any interested members of the panel may not vote on award categories that their companies are contesting.
The 11th Annual Finance and Taxes Congress will be held in Moscow on 23-24 May 2017.
Participants include the winners of the 2016 Corporate Tax Awards.
Key topics: new developments in taxation and tax administration; legislation on controlled foreign companies (CFCs) and practical guidance for compliance; regulation of related-party transactions; BEPS: implementation in Russian law; new developments in company financial strategies; internal audits and risk management; electronic workflow systems; strategic cost reduction; automation of accounting and reporting; attracting financing: challenges, tax disputes and commercial court practices.
We look forward to seeing you at the Congress! To participate in the event, please follow this link: 2017 Finance and Taxes Annual Congress2017 Annual Finance and Taxes Congress
On 13 March 2017, RSPP and PwC announced the call for applications for the Corporate Tax Award – 2017 at the opening ceremony of the Tax Conference on “Building a Tax System to Stimulate Business, Economic Growth and Investment, and to Enhance Competition in Russian Industry” held during the 10th Annual Russian Business Week.
About the Award
The Award was established in 2016 jointly by the Russian Union of Industrialists and Entrepreneurs (RSPP) and PwC
Awards are conferred on a competitive basis. Your company may compete in as many of the nomination groups as you choose.