Articles by Andrey Shpak

Can Your Transfer-Pricing Documentation Help at Customs?

  • 29 May 12
  • Goltsblat BLP

This year marks a cornerstone for both tax and customs legislation in Russia: Both the long-awaited new transfer-pricing rules came into effect, and WTO accession was finally made a reality. With the introduction of these new frameworks, taxpayers will be subject to an increased tax compliance burden, requiring a significant amount of additional documentation. On the other hand, a new set of defenses has also become available to taxpayers. This article explains how transfer-pricing documentation can help to support the value of goods at customs.

Customs Valuation of Related-Party Transactions and Transfer Pricing in Russia

  • 06 March 12
  • Goltsblat BLP
For customs value purposes, it is not always possible to use the price of a transaction with imported goods in cases when a foreign seller and Russian buyer are related parties, whereas, on the other hand, the possibility for such a buyer to write off its expenses associated with acquiring the goods as production costs also often gives rise to questions.

6 Developing Strategic Themes in the Russian Tax Environment and What You Should Do About Them in 2012

  • 08 February 12
  • Goltsblat BLP

The Russian tax environment keeps evolving following the growth and development of the economy. Listed below are the main themes that I am seeing unfolding in the Russian tax environment and how they can impact your business.

4 Typical Issues Russian High-Net-Worth Individuals Face When Using Trusts

  • 18 October 11
  • Goltsblat BLP
Despite being a feature of a different legal system, trusts are a common part of a personal ownership structure used by many Russian high-net-worth individuals (HNWI). Trusts are often sold by many providers as "a magic solution" without mentioning some of the potential practical difficulties that the beneficiaries may face. In this article, we look at some of the typical issues that Russian HNWI face when using trusts (in particular, English law trusts) and some of the approaches to solve these issues.

4 Steps a CEO Should Take Concerning the New Transfer Pricing Rules

  • 28 September 11
  • Goltsblat BLP

The new law on transfer pricing adopted in July and coming into effect from Jan. 1, 2012, will affect most large and midsized businesses operating in Russia, whether Russian or multinational. The new legislation is a lot more detailed than previously and, although tax directors and managers will be handling most of the details, there are several steps CEOs should take to ensure that their business is prepared.

The Need for Documentation Supporting Intra-Group Transfer Prices

  • 28 June 11
  • Goltsblat BLP

The Supreme Arbitration Court in Ruling No. BAC-2087/11 dated March 4, 2011, has upheld lower-level courts in permitting the upward adjustment of intra-group iron-ore concentrate prices at a Mechel mining subsidiary —Korshunovsky GOK — supplied to the group's trading company.