On 27 July 2012, the Federal Tax Service of the Russian Federation (the “FTS”) approved (i) the notification form for controlled transactions (“Notification”); (ii) the procedure to complete Notifications; as well as (iii) the procedure to submit Notifications in electronic form.

Taxpayers must submit Notifications to the tax authorities (i) by 20 May, inclusive, of the year following the calendar year in which the controlled transactions were completed; and (ii) at the taxpayer’s registered office (place of residence), except for major taxpayers, which submit Notifications at the location where they are registered as major taxpayers. Notification in paper form is submitted by using the approved online form which may be filled in by hand or printed out from a computer.

The Order does not permit (i) double-sided printing of the Notification in paper form; (ii) clipping the sheets together; as well as (iii) correcting errors manually. Additionally, it has been suggested to round off all amounts to the nearest whole number, meaning that those ending in an amount less than half a rouble are rounded down to the nearest rouble, while those exceeding this amount are rounded up to the nearest rouble.

[Order No. MMV-7-13/524@ of the Federal Tax Service of the Russian Federation, dated 27 July 2012]