Last week, Medtronic Plc suffered a legal setback in its bid to avoid a $1.4 billion U.S. tax bill — a ruling that may have costly implications for other multinationals battling the Internal Revenue Service over the use of overseas payments to lower their taxes.
Today, there are about 100 single family offices in Russia and as many as 20 multi-family offices. Such firms typically tend to investments, taxes, estate planning and even personal needs such as travel and education.
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