Federal Law No. 539-FZ of November 27, 2023, introduced large-scale changes to the Tax Code; specifically, the changes affected transfer pricing fines.
If a company fails to submit notifications of controlled transactions completed in a calendar year to the Tax Authorities on time or the notification contains false information, the fine will be 100,000 rubles (instead of 5,000 rubles).
If you fail to submit a notice of participation in an international group of companies within the prescribed period or provide false information, instead of 50,000 rubles, the company will pay a fine at the new rate of 500,000 rubles for each violation.
In case of failure to submit a country report on time or submission of a country report containing false information, the fine for the company will be 1,000,000 rubles for each violation (instead of 100,000 rubles)
Also, for failure to submit national documentation and global documentation within the prescribed period, the fine for the company has been increased to 1,000,000 rubles (today, this fine is 100,000 rubles)
A new fine will be introduced for the taxpayer’s failure to submit documentation regarding a specific transaction (group of similar transactions) within the prescribed period. The fine for the company will be 500,000 rubles.
A new fine of 1,000,000 rubles for failure to submit information or the submission of false information from the consolidated financial statements of the multinational enterprises will take effect from January 01, 2024.
The fine has been increased for non-payment or incomplete payment by a taxpayer of tax amounts as a result of the application for tax purposes in controlled transactions of commercial and (or) financial conditions that are not comparable with the commercial and (or) financial conditions of transactions between persons who are not interdependent. The fine will be 100% of the unpaid tax on such income but not less than 500,000 rubles. Today, it is 40% and at least 30,000 rubles.
If you fail to submit a notice of participation in an international group of companies within the prescribed period or provide false information, instead of 50,000 rubles, the company will pay a fine at the new rate of 500,000 rubles for each violation.
In case of failure to submit a country report on time or submission of a country report containing false information, the fine for the company will be 1,000,000 rubles for each violation (instead of 100,000 rubles)
Also, for failure to submit national documentation and global documentation within the prescribed period, the fine for the company has been increased to 1,000,000 rubles (today, this fine is 100,000 rubles)
A new fine will be introduced for the taxpayer’s failure to submit documentation regarding a specific transaction (group of similar transactions) within the prescribed period. The fine for the company will be 500,000 rubles.
A new fine of 1,000,000 rubles for failure to submit information or the submission of false information from the consolidated financial statements of the multinational enterprises will take effect from January 01, 2024.
The fine has been increased for non-payment or incomplete payment by a taxpayer of tax amounts as a result of the application for tax purposes in controlled transactions of commercial and (or) financial conditions that are not comparable with the commercial and (or) financial conditions of transactions between persons who are not interdependent. The fine will be 100% of the unpaid tax on such income but not less than 500,000 rubles. Today, it is 40% and at least 30,000 rubles.
