ИСТИНА

The government of Russian Federation was undertaking the extraordinary efforts in order to support national economy during the pandemic. I need to stress that the set of substantial measures, including direct financial support and reduction of the tax burden, was introduced by the Russian Government. Sectoral financial measures for industries and enterprises most sensitive to the lockdown. 1. Set of tax exemptions and benefits for transport, hospitality and tourism business. 2. VAT rate cutoff for special medicine using in anti-covid therapy. 3. Tax vacations for small business. 4. Suspension of any state audit of business during the pandemic. 5. Filing deadlines expenditure. 6. Interest relief and deferred interest payments without any penalties. 7. Direct financial support for families with kids. The COVID scenario is characterized by the following aspects that are able to impact the Transfer Pricing policies, i.e.: Extraordinary losses because of the lockdowns activated in several markets New types of government assistance The above scenario poses two main challenges, i.e.: Should the “PRE- COVID” value chain analysis be changed / adjusted because of the COVID scenario? If so, which should be the proper transfer pricing approach? Moreover, which country should bear the extraordinary losses given by the COVID scenario?