The Russian Ministry of Finance recently issued Guidance Letter No. 03-03-06/1/37453 of 22 April 2024 on the submission of the required report to claim the increased deduction of R&D expenses incurred in relation to government listed R&D activities. The procedures for accounting for R&D expenses are provided under Article 262 of the Russia Tax Code. The letter explains that, as per paragraph 7 of Article 262, taxpayers incurring R&D expenses on R&D activities according to …