The submission of Notifications on Participation in a MNE group is drawing near
The deadline for the submission of Notifications on Participation in a MNE group, as required under the Tax Code of the Russian Federation, is drawing near. If the financial year of the parent company of the MNE group corresponds with the calendar year, then the Notification on Participation in an MNE group must be submitted to the tax authorities of the Russian Federation no later than 31 August 2020. If the financial year of the parent company does not correspond to the calendar year, then Russian companies that are participants in MNE groups must submit the Notification within eight months of the end of the financial year.
The following are rrecognised as participants in the MNE group:
Format
Contrary to the requirements of other jurisdictions, in the Russian Federation the notification is filed electronically, but in a specially designed form in XML format in Russian, in accordance with Order No. MMP-7-17/124@ of the Federal Tax Service of Russia, dated 6 March 2018.
Fine – 50,000 (for failure to file the Notification by the established deadline or for filing a Notification containing inaccurate information) from 2020 reporting period.
What does this mean for you?
For MNE groups with a Russian parent company
For MNE groups with a Russian UPE
The Notification on Participation in an MNE group must be submitted in XML format according to specially developed schemes.
We are pleased to be able to present to you the opportunity to automate the process for preparing and filing your Notification on Participation in an MNE group and Country Report using the KPMG BEPS Automation Tool.
Our application is a boxed solution that provides the following features:
Our KPMG specialists would be delighted to provide detailed answers to any questions that you may have, and to assist you with the preparation of notifications for filing with the tax authorities of the Russian Federation, including converting the Notification to XML format
Natalya Valkovskaya
Partner, Head of Transfer Pricing
KPMG in Russia and the CIS
Т: +7 495 937 44 77
Е: nvalkovskaya@kpmg.ru
Ilarion Lemetyuynen
Transfer Pricing
Partner
KPMG in Russia and the CIS
Т: +7 495 937 44 77
Е: ilemetyuynen@kpmg.ru
Olga Pletneva
Transfer Pricing
Partner
KPMG in Russia and the CIS
Т: +7 495 937 44 77
Е: opletneva@kpmg.ru
Anastasia Mikhailova
Transfer Pricing
Director
KPMG in Russia and the CIS
Т: +7 495 937 44 77
Е: anastasiamikhailova@kpmg.ru
Vera Evdokimova
Transfer Pricing
Director
KPMG in Russia and the CIS
Т: +7 495 937 44 77
Е: vevdokimova@kpmg.ru
Elena Ivannikova
Transfer Pricing
Director
KPMG in Russia and the CIS
Т: +7 495 937 44 77
Е: eivannikova@kpmg.ru