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7 December 2015 |
How to protect your interests entering into a lease agreement amid economic crisis?On December 4, 2015 VEGAS LEX law firm organized a workshop, Leasing: contract termination vs. contract changes, for representatives of major Russian and international companies. VEGAS LEX Partner, Head of Real Estate, Land & Construction practice Igor Chumachenko opened the event by talking about disputes between the parties to the lease in a situation of economic instability and discussing the recent trends in judicial practice and regulatory framework development. He also touched upon the changes in the amount of rent and offered a series of anti-crisis recommendations. Manager of Tax practice projects Yuriy Ivanov spoke about the key tax risks posed by leasing. He addressed such issues as the impact of pricing policies (including a variety of ways to recover the utility costs, obtaining rent holidays or receiving a security payment) on the resulting tax. He also looked at the tax specifics of the different structuring of major repairs contracts as well as the tax risks associated with the registration of contracts and amendments thereto, and property ownership rights. Vyacheslav Kholopov, Partner, Regional Director at Newmark Knight Frank Russia and CIS was invited as a guest expert to analyze the current markets for commercial (office, retail and warehouse) property in Russia in 2015. *** For more information on VEGAS LEX’s services related to real estate, land and construction, please click here. For more information on VEGAS LEX’s tax law services, please click here.
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