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Artem Toropov

Senior Associate  |  Baker McKenzie
JURISDICTIONS QUALIFIED IN

Russia

TOP 3 AREAS OF EXPERTISE

Succession planning
Asset holding structures
Tax

Q&A

What has been the highlight of your practice over the past 12 months?

In 2017 and 2018 our team and I have been actively instructed by many leading private banks in Switzerland and their clients on the matters of Russian tax compliance and disclosure, including in relation to: Russian voluntary disclosure program that has been restarted for 2018-2019 to meet the increased demand of Russian high net worth individuals; CRS-related compliance prior to commencement of the exchange with Russia in 2018; compliance with the Russian CFC rules that affect, among others, Russian clients with personal and business assets aboard, including offshore trusts and foundations; and Russian currency control (RCC) rules that apply to foreign personal accounts of Russian residents.

What advice would you give rising stars/new lawyers in the private client world?

Anticipate the current and future needs of clients, be bold and proactive in addressing these needs in ways that reflect your own values and beliefs, even if it means going against market trends and the usual way of doing things.

What is your favourite quote?

“Nuclear physics is much easier than tax law. It's rational and always works the same way,” Jerold Rochwald.