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Marina Tokunova

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Marina Tokunova is a partner in Baker McKenzie's Tax Practice Group in Moscow and a member of the Baker McKenzie Global Reorganizations Group. Marina advises Russian and multinational clients on complex tax issues, including tax advice for M&A deals, joint ventures, carve-out transactions and corporate reorganizations. Marina joined Baker McKenzie in 2007. Prior to joining the Firm, Marina had several years of experience working at EY, where she mainly focused on transactional (M&A) tax work. Marina is also a visiting professor of tax law at Moscow State University.

The Russian Federal Tax Service (the “FTS”) has issued a letter clarifying the provisions of Article 54.1 of the Russian Tax Code on tax avoidance, outlining a methodology for tax inspectorates on how to identify misrepresentations of business operations, check material facts and intent to use sham or “fly-by-night” companies. It also provides taxpayers with criteria for counterparty due diligence, which should eliminate the possibility of their subsequent tax liability.

In addition, the FTS has finally admitted the need for so-called “full tax reconstruction” (a comprehensive reclassification of transactions previously applied only by the courts) and the ability to deduct actual expenses for corporate profits tax purposes and to offset input VAT on transactions with sham companies. However, this is possible only if a taxpayer discloses the actual suppliers and financial terms in such transactions.