The Russia Federal Tax Service (FTS) has issued letter No. SD-4-3/6181@ of 4 April 2019 concerning the recognition of losses as a result of the liquidation of a foreign subsidiary. In particular, the letter concerns a Russian company that had acquired 100% of the shares in a company resident in Cyprus in 2012 for approximately RUB 1.5 billion. The Russian company subsequently decided to liquida…