Overview
Businesses could face drastic transfer pricing (TP) consequences as Putin’s government aims to seize intellectual property (IP) from companies leaving the Russian market, writes International Tax Review’s Leanna Reeves. Russia’s threat to seize IP assets from top brands means businesses could be at risk of losing their patent work and royalties, ultimately affecting their TP arrangements.
McDermott’s Tax partner James Ross talks to the publication about some of the implications for companies with operations in Russia, including loss of the revenue generated by royalties because of their IP being seized.