Order on the provision of MNE group financial statement information

On 27 Dec 2024 Federal Tax Service Order No. ED-7-13/1115@ dated 10 Dec 2024 “On Approving Formats for Filing the Consolidated Financial Statement Information of a Multinational Enterprise Group and the Financial Statements of Members of a Multinational Enterprise Group in Electronic Form” was published. The Order approves the format for submitting financial statements by members of multinational enterprise groups, as stipulated by Article 105.16-7 of the Russian Tax Code (RTC).

The obligation to submit financial statements applies to MNE groups indicated in Clause 1 of Article 105.16-7 of the RTC, provided that:

1. at least one participant has performed cross-border controlled transactions, the subject of which is goods included in the list specified in Clause 5 of Article 105.14 of the RTC;
2. more than 50% of assets as at the last reporting date preceding the year of such controlled transactions are located in the Russian Federation.

The Order enters into legal force on 27 January 2025. If financial statements are not submitted by the prescribed deadline, or if inaccurate information is submitted, a penalty of RUB 1,000,000 will apply.

Kept professionals will be happy to answer your questions in detail and:

• assess the need to provide information on a particular MNE group entity
• make recommendations on the appropriate scope and detail of data disclosure
• provide methodological support in collecting data and completing the required form

See our review for details.