In brief Russian B2B purchasers should self-assess and pay to the Russian budget VAT on electronically supplied services (ESS) purchased from foreign vendors.  This is an official recommendation of the Federal Tax Service of Russia (FTS).1 In detail Under the current Russian VAT regime on B2B ESS, foreign ESS vendors must collect and directly pay VAT to the Russian budget. The FTS recommendations appear to allow facilitating the VAT payment in cases when making a…

In the past few days the following key restrictive measures were introduced to support the ruble exchange rate and the Russian economy: Russian foreign trade participants (e.g. exporters of goods and services) must sell 80% of their foreign currency revenues resulting from any kind of foreign trade contracts within 3 days from receiving them on their Russian bank accounts. This requirement applies to revenues received starting from 1 January 2022.Starting from March 2022 Russian residents,…