Natalia Valkovskaya

Natalia Valkovskaya

Partner, Transfer Pricing, Tax Management Services, Tax Technology

KPMG in the CIS

Natalia has been working in KPMG since 2006.

Natalia has extensive experience in the field of taxation and law, including:

  • Comprehensive transfer pricing services for Russian and international clients including intragroup price planning and preparation of supporting documentation.
  • Building an effective process for preparing transfer pricing documentation within groups of companies doing business both in Russia and in foreign jurisdictions.
  • Implementation of best practices aimed at meeting BEPS requirements, including preparation of CbCR and transfer pricing risk mitigation.
  • Structuring intragroup operations, analyzing, improving and documenting value chains, including both core operating activities and activities in the area of financing, ownership and use of intellectual property, and management activities.
  • Assistance to clients in the framework of control activities performed by tax authorities, including transfer pricing audits and control activities outside specifically initiated transfer pricing audits (pre-audit analysis).
  • Assistance to clients in concluding pricing agreements with the FTS and multilateral pricing agreements involving tax authorities of foreign jurisdictions.

Natalia’s experience includes working with large Russian and international groups operating in the field of non-ferrous metallurgy, chemical industry, fuel and energy complex, telecommunications, light industry, aviation, pharmaceuticals and FMCG.

Under Natalia’s management the TP Group got an award as the Best Transfer Pricing Firm from International Tax Review several times and was also recognized as such by World TP in 2020.

In 2020, Natalia was recognized as the best transfer pricing specialist in Russia by World TP.


In the Media


Comments for RBC on the provisions of the law on improving the application of transfer pricing rules, which will enter into force in 2022.


Comments for RBC Pro on the mutual agreement procedures in Russia.


Comments for RBC Pro on changes to the RTC in terms of mutual agreement procedures.


Comments for Vedomosti about offshores.

Comments for Vedomosti on double taxation avoidance.

Comments for Vedomosti on a Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS.

Comments for Vedomosti on the implementation of multilateral instruments.


Comments for Vedomosti on the disclosure of internal operations of MNEs.

Comments for Vedomosti on banning the use of preferential rates under agreements.

Comments for Vedomosti on the disclosure by the FTS of the information related to MNEs’ internal operations.

Comments for Vedomosti on the EU Council Directive on combating international tax avoidance.

Comments for Vedomosti on gaining access to the data of MNEs.


Comments for Vedomosti on the disclosure of information about subsidiaries.

Education and qualifications
  • Financial Academy under the Government of the Russian Federation, specialization Finance and Credit (honors degree)

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