The subject of this study is the ways to reduce tax risk, including some civil law constructions: warranty and representation, contractual indemnity and insurance. On the basis of research, the author concludes that in some cases the negative consequences of tax risks (“losses”), indeed, can be compensated by the mentioned civil law institutes. As a rule, we are talking about the share acquisition (M&A transactions), when the seller gives the buyer or the investor assurances of absence of claims to the company from third parties, including tax authorities. In turn, the use of the same institutes (under the guise of “tax clauses”) in supply contracts, as an alternative to checking the counterparty (supplier), that is, the exercise of taxation due diligence, seems questionable, contrary to the private law nature of warranties and indemnity, as well as objectives of tax regulation. Demand for tax clauses in these relations can easily be explained by the repressive nature of Russian tax system, the lack of certainty of tax law. The tax risks of customer in this situation cannot be insured either - due to the illegality of the insured’s interest and the lack of contingency in the risk.