Tax Advice

Tax advice is our priority area. Our associates have extensive and diverse experience from assessing the tax implications of business transactions to developing and implementing tax accounting policies and practices.

Schekin & Partners helps industrial production, services, IT, construction, trading, telecommunications, banking and financial companies resolve complex tax-related tasks.

Examples of our tax advisory work:

  • We helped a large foreign engineering company analyze the estimated profit tax base for its Russian office, clarified those estimates in the context of Russian tax law, and prepared a method for calculating the profit tax base;
  • We prepared a written finding for a rail cargo transporter serving the Kazakh oil industry on how customs duties are paid on goods imported to Russia that were released for free circulation in Kazakhstan prior to the enactment of the Customs Union common customs tariff;
  • We helped the managing company of an oil group evaluate the tax risks of applying a preferential tax rate when paying dividends to a foreign company;
  • We advised a large distance sales company on how to classify monetary prizes paid to promotional contest winners under the company’s marketing policy as expenses for profit tax purposes;
  • We helped a large oil company analyze the tax implications of wage payments and benefits provided to employees doing shift work in the Far North;
  • We provided clarification to a manufacturer on its VAT liabilities under Federal Law No. 79-FZ of 29 December 1994 “On State Material Reserve;”
  • We prepared a report for a large advertising and media group on the tax implications of signing service contracts to acquire clients;
  • We advised a gold mining company on the tax implications of using its subsoil license as a contribution to charter capital and the subsequent sale of its stake to a third party;
  • We prepared a report for a supermarket chain on classifying shrinkage due to theft as an expense when calculating the profit tax base, even if the shoplifters are not caught;
  • We advised a distance sales company on documentation requirements, economic justification and exercise of prudence for the principal’s expenses under an agency contract involving multiple intermediaries;
  • We advised a company engaged in survey, exploration and production of hydrocarbons on calculating the subsoil tax for combustible natural gas and gas condensate;
  • We advised a large developer on classifying and determining the fair value of completed construction that is part of a multifunctional complex;
  • We provided a construction company with a comprehensive finding on tax issues arising in real estate transactions;
  • We advised an online auction company on its options for applying VAT concessions under Article 149(2)(26) of the Russian Tax Code;
  • We evaluated tax risks for a financial company and made recommendations on how to handle interest on loans when the interest is paid together with the principal as a lump sum;
  • We advised a transportation company on the tax liabilities that arise when rail cars owned by a foreign company are leased in Russia;
  • We helped a financial company clarify the tax implications of various methods for terminating loan obligations with Russian and foreign corporate borrowers;
  • We advised a large company engaged in mining precious metals on maintaining separate accounting for input VAT on sales of precious metals at VAT of 0% and 18% (10%);
  • We advised a bank on the tax implications of leasing transactions;
  • We prepared a finding for a bank on the tax implications of an auto manufacturer paying the interest on auto loans to boost sales;
  • We advised the managing company of an oil group on how to recognize a dividend recipient’s lack of actual right to receive dividends and how to apply preferential tax rates for the actual dividend recipient;
  • We advised an oil producer on how to document agency contracts under which the agent sells goods on behalf of the principal and how to determine the VAT base for the agent’s commission;
  • We prepared a comprehensive report for a manufacturer on the tax risks of debt obligations to a foreign founder when converting dividend arrears to loans with the issue of promissory notes.