The Ministry of Finance is preparing a bill to reduce the possibility of corporate tax evasion through non-market transactions. This is stated on the department’s website in reference to a statement by Deputy Minister Alexei Sazanov after a meeting with business representatives.
In particular, the issue of improving price control in transactions between related parties is being considered to reduce the possibility of tax evasion.
According to Sazanov, the document being prepared will conceptually change the approach to transfer pricing management (transfer pricing).
“The circle of interdependent persons is expanding, the depth of the audit is increasing, fines are increasing (up to 40% of the adjustment of the tax base), the approach to determining the market price is improving,” Sazanov is quoted in the press service. saying.
The document will pay special attention to the control mechanism for cases in which foreign exchange earnings from foreign trade transactions do not return to the country due to taxpayer abuses. They use non-market prices in transactions.
In October, Vladimir Putin signed a decree requiring some exporters to sell part of their foreign exchange earnings in Russia. The banking sector doubted the effectiveness of such measures. According to the head of Sberbank, German Gref, the decision is unlikely to affect the current situation of the ruble exchange rate.
Author:
Natalia Gormaleva
Source: RB
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