Tag: ICAR

Russian state body that monitors agricultural commodity markets and provides price benchmarks used in transfer pricing audits of agri-trade transactions.

Russia vs RIF Trading House, April 2019, Moscow City Court, Case No. No. A40-241020/18

Russia vs RIF Trading House, April 2019, Moscow City Court, Case No. No. A40-241020/18

/ Commodity Transactions, Comparability Analysis, Marketing and Procurement Hubs, Transfer Pricing Methods, Agricultural products, Commodity exchange prices, Commodity transaction, Comparability, Comparability adjustments, ICAR, Platts quotes
A Russian trading house exported agricultural commodities including wheat, barley, corn and peas to a related UAE trader at artificially low prices, without disclosing the relationship or providing transfer pricing documentation. The Russian Federal Tax Service conducted an independent analysis using Platts and ICAR commodity exchange prices, applying combined pricing methods and adjustments. The Moscow City Court ruled in favour of the tax authority in 2019 ... Read more