The deadline is fast approaching for filing a notification of controlled transactions for 2017

LEGAL DIGEST \ 08.04.2018

20 May 2018 is the last day for filing with tax authorities a notification of controlled transactions for 2017.

The following are controlled transactions:

• transactions between Russian related parties with a turnover of over RUB 1 billion a year;
• any transactions with foreign related parties (including loans); or
• transactions with a turnover of RUB 60 million a year (in certain cases).

The fine for the failure to file a notification amounts to RUB 5,000. If during an audit an inspectorate of the Federal Tax Service identifies any violations of transfer pricing rules, taxes and default interest will be additionally accrued, as will a fine of 40% of the tax arrears (subject to a minimum of RUB 30,000).

If you need to prepare a notification of your company’s controlled transactions and a set of transfer pricing documentation, please send a request to Acsour.