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This month the Alinga Market Update focuses on trademarks in Russia - which was also the major focus of our last seminar held at the Swissotel in Moscow. In this month's issue, you'll find valuable information from the presentations held there as well as our usual array of articles on accounting, taxation, legal, and HR themes, with a focus on international business and employees at work in Russia.
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Accounting and Taxation of Transactions Related to Trademarks (ppt file)
This presentation takes a look at bookkeeping and tax accounting for intangible assets and the particular case of trademarks. We examine the procedure for establishing the initial cost of trademarks, their amortization, retirement (write-off, cession), and the transfer of trademarks by licensing agreement. We discuss the procedure for reflecting income and expenses in bookkeeping and tax accounts, the taxation of certain operations connected with the movement of a trademark, and the peculiarities of establishing the tax basis for value-added tax when giving trademarks under licensing agreement.
Financial Investments: Accounting and Taxation of Specific Transactions (ppt file)
This presentation looks at financial investments in the RF, including investments of an organization into state securities, bonds and other securities of other organizations, into the founding capital of other organizations, as well as the issuing of loans to other organizations.
Accounting and Taxation of Transactions Involving Fixed Assets (ppt file)
Nowadays, practically every company has fixed assets. The difficulty in accounting for them is that there are differences in bookkeeping and tax accounting for reflecting operations connected with fixed assets. Moreover, there are many issues related to the taxation of fixed assets and operations involving them. In this presentation we examine the key issues in bookkeeping and tax accounting of fixed assets, as well as the main changes that took effect on January 1, 2007 that affect such issues.
Accounting for Fixed Assets for Those Applying the Simplified Taxation System and the Unified Tax on Imputed Income (ppt file)
This presentation explores the concept of fixed and intangible assets for purposes of calculating tax under the simplified tax system. Taxation of assets acquired before moving to the simplified tax system and taxation of assets acquired during the period of applying the simplified tax system is considered. Additionally, how to account for fixed assets of businesses applying the unified tax on imputed income and the peculiarities of accounting for assets when unified tax on imputed income is applied in conjunction with other tax regimes is considered.
Review of Recent Changes to Tax-Related Legislation in the Russian Federation
This monthly Russian-language service from Alinga and regular feature of the Alinga Market Update is designed to bring your financial personnel a broad view of recent changes to the Russian Tax Code. Forward this link to them!
36 Signs of a Suspicious Company: Tax Service Looks at Exports
The Federal Tax Service has outlined 36 signs that should indicate to tax authorities the unreliability of exporters. Such exporters would be denied Value Added Tax reimbursements.
The FTS Explains What Needs to be Done to Avoid Inspections
The FTS revealed criteria which may allow taxpayers to avoid additional control. Tax authorities are convinced that the formation of a unified approach will stimulate taxpayers to observe the TC and to refuse minimization of taxes.
The "White" VAT-Payers Club
MinFin also plans to collect an additional 500 billion rubles by creating a “club” of VAT-payers. Companies with business exceeding four million rubles (or more than twenty million rubles per year) must go through a special registration process. For small companies this registration will be optional. Only companies with specially-assigned Tax Payer ID number will pay VAT. Tax authorities will be able to focus on administration of “lesser number of taxpayers”, says MinFin.
Department of Alcohol and Tobacco Abolished
The Federal Tax Service has abolished its department that dealt specifically with alcohol, tobacco, and gambling. The functions of that department are now distributed between among other departments within the agency, including those dealing with business and information technology.
Legal Aspects of the Registration and Protection of Trademarks (ppt file)
It's no secret to anyone anymore that in the modern economy it is practically impossible to promote goods or services without use of a trademark. In a competitive environment your trademark and the reputation of your company invested in it is the guiding star by which customers will come to you, even though there may be dozens, or hundreds, or even thousands of analogous products by other manufacturers. Our presentation will help you understand what a trademark is, how to register it, and how to protect it your rights in the trademark not only in Russia, but abroad also.
Safeguarding Civil Society in Politically Complex Environments
This article, in English and as appeared in The International Journal of Not-For-Profit Law compares Russia's controversial NGO law and other laws concerning civil society to those of other developing nations.
No More "MROT" in Administrative Fines
The State Duma amended the Code of Administrative Offenses. Penalties will now be expressed in roubles rather than "MROT," or multiples of the minimum wage. The amendment also converts all present fines by applying a standard multiplier of 100 roubles.
Find Job Vacancies Here Find Employees Here
Planning Careers and Possible Decisions
This article, available in Russian, address the issues Russians may have in choosing a future carrer in their developing and booming economy.
Hiring Illegal Workers is Becoming More Expensive
Employers have paid approximately 150 million roubles to the the Federal Migration Service (FMS) since the beginning of this year; most of this sum was paid by construction companies.
Companies are Required to Pay Pensions to Hired Foreigners but Foreigners Never Receive Them
When hiring foreigners for work in branch offices abroad, Russian companies are obligated to pay a Uniform Social Tax on their salaries, but these workers are not given use of free medical services and do not receive pensions. Deputies and government officials have promised to eliminate the unfairness.
Registration Headaches Not Over for Tourists
Russia’s new registration procedure, which was touted by officials as being a vast improvement over the previous system, is still causing a multitude of problems for tourists and tourism in Russia alike.
Renting in Russia
With horrors real and hyped by rumor, renting an apartment in Russia may seem daunting for a foreigner. The legal issues are complex, but not entirely unnavigable. The following article seeks to inform renters of their rights as given by Russian law (these rights apply to Russian citizens as well as to foreigners) as well as to forewarn the reader of certain difficulties that may be encountered while renting in Russia.
Foreigners May Be Required to Learn Russian
One of the State Duma deputies proposed amendments for the law on "Legal Rights of Foreign Citizens in Russian Federation," requiring migrants to learn the Russian language. Exceptions will be made only for foreigners working in foreign companies.
Guide to Russian Finance
The following new resource on the Alinga site gives a general overview of finance in Russia and lots of links to help you find more information about Russian securities, depositories, stocks, venture capital, and much more!
FNS Releases New Electronic Tax-Check Program
The Russian-language program, which can help accountants double check thier accounting and tax declarations, is now available online. Note: this is a "tester" version of the program. The page hosting it is very simple - you click on the "Read Me" file for instructions and on the ".exe" link to download the program.
Russia's International Trade at Risk as Import Grows Rapidly While Export Decreases Significantly
The condition of Russia's foreign trade continues to rapidly decline. In January – February 2007 the growth of exports, as estimated by Ministry of Economic Development, with respect to the same period of 2006, amounted only to 0.3%.