Global

Details

  • Service: Tax, International Corporate Tax, Global Indirect Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 8/29/2012

Russia - Guidance letters concerning VAT, profit tax issues 

August 29:   Guidance letters from Russia’s tax authorities clarify:
  • The procedure for determining the value added tax (VAT) base when selling goods under foreign currency contracts, payment for which is stipulated in rubles at an agreed exchange rate
  • The official position regarding the incorrect statement of a currency code in a VAT invoice as a basis for denying a tax deduction
  • Statement of the country of origin for goods in a VAT invoice
  • Adjusted VAT invoices
  • VAT deduction in the absence of sales

Other guidance letters address profit tax issues such as forms to be completed on the expenses of automobile transportation of goods.


Court cases continue to address application of the thin capitalization rules.


Read a 2012 report [PDF 158 KB] prepared by the KPMG member firm in Russia: Tax Bulletin #3 (January – April 2012): Retail and Consumer Markets




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