The Russian government has sent Draft Law No. 79859-6, which offers to set new transfer pricing deadlines for taxpayers for the second reading to the lower house of the Russian parliament. These changes may impact international businesses operating in Russia. These businesses should make sure that they submit transfer pricing documentation by the right deadline to avoid the imposition of penalties.
The main proposed changes made to transfer pricing deadlines are as follows:
The new proposed deadline shifts the present date of notifying the tax authorities from May 20, 2012 to November 20, 2013. For the submission of the transfer pricing documentation by tax payers, the proposed new date is December 1, 2013, from the earlier June 1, 2013. Again, the date of the deadline for a transfer pricing audit is expected to be changed from December 31, 2013 to June 30, 2014.
