ALRUD’s team advised MasterCard on the launch of new products in the Russian market

ALRUD’s team advised MasterCard on the launch of new products in the Russian market

01 October 2021

For many years, ALRUD’s tax specialists have been advising Mastercard Europe SA and its Russian subsidiaries of the international financial corporation MasterCard on Russian tax and currency regulation.

Projects, where our specialists take an active part, are related both to the daily activities of the MasterCard Group in Russia (for instance, the implementation of a corporate bonus program, the use of electronic funds, or obtaining the status of 'the largest taxpayer'), and to the implementation of strategically-important and status solutions for the Group.

Such solutions have included a launch of new products and platforms of the Group in the Russian market, like Mastercard Traveller Rewards (MTR), the introduction of loyalty programs, the holding of promotion actions with partners (for instance, a joint program of booking with a cashback for MasterCard users, with, and the introduction and use of innovative payment systems, like HomeSend.

Before launching, most solutions require not only a thorough audit and assessment of tax and legal risks by ALRUD, but also providing comprehensive advice on various tax issues, including corporate taxation and taxation of individual cardholders, as well as on Russian currency regulation, considering cross-border foreign exchange transactions.

The ALRUD team, which worked on projects under the leadership of Anton Dzhuplin, Partner, and Maria Ostashenko, Partner, included Elena Novikova, Of Counsel of Tax Practice, Sergey Artemiev, Senior Associate of Tax Practice, and Alexey Gavrilov, Tax Practice Attorney.

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