The Russian parliament has announced the adoption of a series of measures to help mitigate the effect of sanctions. Some of the highlighted measures include:
In addition to the above, Russia's Federal Tax Service (FTS) has issued a letter dated 5 March 2022 regarding transfer pricing controls. The letter notes that because of the sanctions imposed, taxpayers may need to sell their products for export at a discount, leading to a loss on the transaction. In this regard, the FTS will consider these circumstances and their impact on pricing when conducting transfer pricing controls and when considering applications for advance pricing agreements.