Under Russian tax legislation, an adjustment to the VAT invoice is issued when the price of goods shipped (works performed or services rendered) changes, provided there is a primary accounting document confirming the buyer’s consent to such an alteration.

On 23 August 2012, the Ministry of Finance of the Russian Federation clarified that if the price change results from the correction of an error committed when completing the VAT invoice, then the seller is under no obligation to issue an adjustment to the VAT invoice. In this case, the seller may just amend the initial VAT invoice that was issued when shipping the goods (performing works or rendering services) – (as per the Rules for completing a VAT invoice (paragraph 7), as approved by Decree No. 1137 of the Government of the Russian Federation dated 26 December 2011).

[Letter No. 03-07-09/125 of the Ministry of Finance of the Russian Federation, dated 23 August 2012]