28 March 2024
EPAM Experts and Representatives of Businesses Discussed the Legal Risks of Including Dividends in the Customs Value of Imported Goods

On 26 March 2024, the first meeting in the series of business breakfasts on the most acute customs control issues was held in EPAM Moscow Office. Nearly 40 companies engaged in foreign trade took part in the event.

Companies are facing a wide variety of legal risks due to the increased scrutiny of customs authorities on the inclusion of dividends paid by Russian importers to their foreign founders in the customs value of previously imported goods. Notably, it is usually previous-period deliveries that are subject to inspections and additional customs charges, despite the fact that the customs legislation regarding dividends has not changed.

During the discussion, EPAM attorneys analysed the main existing law enforcement trends and how customs authorities approach the matter, highlighted the intricate nuances associated with the restrictions on dividends and profit distribution, spoke about the ensuing tax implications, and gave practical recommendations on how to ensure efficient legal protection for businesses facing the above challenges.

The speakers at the event were EPAM attorneys: Inna Elisanova, Co-Head of International Trade & Customs Practice at EPAM, Roman Malovitsky, Partner of the Banking & Finance Law, Capital Markets Practice and Igor Schikow, Tax Practice Counsel.