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Bernie Pistillo spoke to Bloomberg Law about the tax penalties companies will face if they decide to keep doing business in Russia following the invasion of Ukraine.



Russia Exodus Raises Tough Tax Issues for Companies

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Bernie Pistillo spoke to Bloomberg Law about the tax penalties companies will face if they decide to keep doing business in Russia following the invasion of Ukraine.“I don’t recall the tax code being used in an economic war before,” Bernie said, but in a highly unusual situation, “maybe this is the way things are adapting.”On the other hand, Bernie that the U.S. also has to take into account the economic harm that U.S. companies will suffer from pulling out of Russia.“I understand not wanting U.S. taxpayers to contribute to the Russian regime’s income through payment of Russian taxes, but what happens to that significant investment that’s been made? What are we going to do to make these people whole?”Read the <a target="_blank" href="https://www.bloomberglaw.com/product/blaw/document/R98R0EDWLU6L?emc=BLAW%3A406765733%3A0&link=ewogICAgImN0eHQiOiAiRE9DIiwKICAgICJpZCI6ICJSOThSMEVEV0xVNkw%2FcmVzb3VyY2VfaWQ9ZTI4ZDM2NjU3YzA3Y2FkMjYwODQwNzI1MDA3MjllM2YiLAogICAgInNpZyI6ICI5WXEyTGt4Q2NJNzhEUzl3YnJ4RXRuN1FGMFE9IiwKICAgICJ0aW1lIjogIjE2NDgxMjU5NTEiLAogICAgInV1aWQiOiAidEtuVnhRdnVaTUFiV29QRWZMbk5qZz09czczYm9DMmZabHJlTkVVT0VCQWdhQT09IiwKICAgICJ2IjogIjEiCn0K&resource_id=e28d36657c07cad26084072500729e3f">full article</a> (subscription required).