The war in Ukraine is a monumental shock – the likes of which Europe has not experienced in decades. The Russian government’s military invasion is endangering the lives of innocent people, and many are fleeing the crisis area. Companies have spent the past weeks withdrawing their employees from the war zone and bringing them to safety.
The war also has significant impact on the risk exposures and strategies of many companies. Short-, medium- and long-term changes are necessary, as well as a response to the sanctions that have been imposed.
Companies and corporations face many questions and challenges that affect very different areas. Below, we have listed some of the common issues to consider:
- Under what conditions are employees fleeing Ukraine allowed to work in Sweden or other countries for a limited period of time?
- Are there countries in the EU providing facilitated procedures for residence/work titles or visas (e.g. remote working visas, digital nomad visas, or similar)?
- What is the insurance status of Ukrainian citizens temporarily staying or work in Sweden or other EU countries
- Which countries does Ukraine have a social security agreement with?
- What are the tax consequences when employees who have fled Ukraine work in Sweden?
- Can Ukrainian employees work in Sweden or other EU countries, even if the employer does not have a branch office there?
Your contact:
Petter Frödeberg, Head of Global Mobility Services
Peter Lindström, Migration Services
- Under what conditions may goods be exported to Russia?
- With whom may business be done and how is payment transactions restricted?
- What restrictions must be observed for imports from Ukraine, Russia or Belarus?
- Do additional compliance checks have to be carried out due to the new sanctions?
Your contact:
Ulrika Badenfelt, Head of Trade & Customs
Emmilie Welander, Trade & Customs
- What impact do the sanctions against Russia have on cross-border financing and payment flows?
- Are adjustments to the existing transfer pricing model and the underlying contracts necessary due to war effects (e.g. the disruption of supply chains)?
- How shall costs connected to closing down business in Russia be handled, considering the TP model in place?
- Will ongoing (advance) mutual agreement procedures (APAs and MAPs) between Russia and Sweden continue? Can new applications be submitted at this time?
Your contact:
Åsa Edesten, Transfer Pricing Services
- What threats should your company be prepared for now?
- What are the implications for your cyber security strategy?
Your contact:
Daniel Gräntz, Cyber Security
- How can your company respond to disrupted supply chains quickly and what can long-term changes look like?
- What scenarios for manufacturing- and logistics footprint should be prioritized?
- What suppliers are at risk?
Your contact:
Björn Borgman, Value Chain Transformation
- How and to what extent can losses from investments in or loans to Russian subsidiaries be used?
- How are currency effects from the drastic devaluation of the ruble treated for income tax purposes?
- How can costs and losses from the crisis-related severance of business relationships with Russian companies be used for income tax purposes?
- Is there a risk that the double taxation agreement between Sweden and Russia will be abrogated and how would this affect my company?
Your contact:
Jörgen Graner, Head of International Tax
Caroline Väljemark, Corporate Tax
- How do I identify business relationships that fall within the scope of economic sanctions?
- What courses of action are available if economic sanctions apply to my business partners?
- How do I ensure know-your-customer checks and transaction monitoring?
- How do I protect myself against non-payment by business partners affected by economic sanctions?
- How do I recognize prohibited circumvention transactions?
Your contact persons:
Andreas Halvarsson, Corporate Sector
Mikael Flod, Financial Services Sector
Martin Kruger, Head of Forensic & Investigation
Oksana Muzychenko, Swedish Ukraine Risk & Compliance Service Desk
- Analysis of contracts with sanctioned or Russian counterparties.
- Contractual consequences for non-performance?
- Analysis of impact on our obligations under third-party contracts?
- Is it possible to prematurely terminate a contract and if so, which are the consequences?
- What should we consider when entering into new contracts?
Your contacts:
Mattias Bergman, Head of Legal Services
Karl Bondesson, Legal Services
