Welcome to the Quarterly Analytical Edition of Market Update!
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As the New Year approaches, Russia looks poised to continue the policies developed over the last eight years. The recent parliamentary election did not significantly change the number of seats held by each party and, if the vast majority of political analysts are to be believed, the coming presidential election will result in a president who supports Vladimir Putin's policies. This political stability, welcomed by investors, is likely to also perpetuate the reform of Russia's taxation, corporate, migration, and labor laws. Staying on top of this changing legislation has kept conducting business in Russia's profitable markets a challenging experience.
Over the next year, Alinga's Market Update will keep you informed of these changes with monthly updates on news pertaining to accounting, taxation, law, HR, and more. Each quarter, we will bring you an in depth issue with original articles explaining and analyzing various technical aspects of doing business in Russia, with special attention given to the concerns of foreign businesses and businesspeople operating in Russian markets. We will strive to make Russian legislation and regulations comprehensible so you can stay legal.
If you have comments, questions, or suggestions on other ways we can improve our site and newsletter, please contact the editor at firstname.lastname@example.org! To subscribe to this newsletter, send an email with "Subscribe Alinga" in the subject field to email@example.com.
Special Feature: Online Seminar Presentations
Alinga Consulting Group's latest breakfast seminar was a great success, with a full house in attendance to learn more about outsourcing in Russia. A clear analysis of the legal and tax risks and the economic and management benefits was detailed, all in straight-forward English. Find out more!
Gift Certificates As Corporate Gifts
While a gift certificate can make for an easy and appreciated holiday gift for your VIP clients, there are several accounting issues to be aware of before purchasing them.
IFRS Gaining Ground in Russia
The portion of companies in Russia using International Financial Reporting Standards increased to 16% in 2007 vs. 11% in 2004.
Notify Your Accountants!
There is much more "Accounting and Payroll" information available in the Russian version of this same newsletter!
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!
Russian VAT – Location, Location, Location!
In today's international and often electronic economy, how does one define the location in which a service was rendered?
Expenses Incurred During the Fulfillment of Civil Contracts
How do travel expenses incurred by a contract employee affect the company for whom that employee is working?
Tax Invoices And VAT For Foreign Companies
A foreign-owned company operating in Russia through its branches for over 30 calendar days per year must register with the tax authorities and receive a Taxpayer ID Number.
Profit Tax For Agency Contracts
If the principal does reimburse the agent’s expenses, the expenses should not be included into the profits tax base.
Russian Prenuptial Agreements
While the definition of a prenuptial agreement is fairly universal, their regulation and enforcement substantially differs in Russia, if compared to similar practices in Western countries.
International Investment Treaty Protection of Not-for-Profit Organizations
This article, from the International Journal of Not-for-Profit Law, explores how NGOs can use investment treaties to protect their work in challenging environments.
Fishing Forbidden For Foreigners
Foreigners and foreign-owned fishing vessels are prohibited from participating in Russia's fishing industry, including coastal fishing.
Foreign Bonds To Receive Direct Access To Russian Market
Russia's Federal Financial Markets Service (FFMS) expects the State Duma during its spring session to approve amendments to the financial markets law which will allow foreign bonds direct access to the Russian market.
Putin Signs Amendments To NGO Law
President Putin signed a federal law introducing changes to Article 1 of the Federal Law “On Non-Profit Organizations” excluding home and land owner associations from the bill’s requirements.
Financial Transactions Of Foreign Public Officials Will Receive Additional Attention
The law expands the list of organizations involved in cash transactions and must take measures against possible money laundering and terrorist financing, by including in that list commercial organizations who sign contracts to finance cash claim transfers by acting as fiscal agents.
New Registration Rules For Legal Entities Will Be Softer Than Expected
Thirty-five-day registration is suggested to allow court bailiffs an opportunity to catch fly-by-night companies and hold demands against them.
Find Job Vacancies Here Find Employees Here
New Employee Integration: A Basic Necessity
Integration programs can benefit both the company and the employee.
The Latest Challenges To Doing Business In Russia
The two major expenses driving this inflation are sky-rocketing commercial rent and rising labor costs.
Average Monthly Wage In Russia
The average Russian wage has grown nearly 50% since the start of 2006.
Temp. Residence Quota Increases 2.7 Times
The massive jump may be, in part, to allow for the increased requests for such permits due to stricter visa requirements passed enacted earlier this year.
Russia May Become Officially "Russian"
The majority of politicians and public figures believe that the term "state-constituting nation" does not in any way depreciate other nationalities nor leads to an impairment of their rights, and only serves as a quantitative evaluation.
Russia Election Update
This publication from the international consulting firm PBN places the results of the Duma election in simple terms, with several helpful graphs for understanding how the raw numbers will affect Russian politics in the coming years.
Economic Situation And Investment Environment
In the third quarter of 2007 saw more growth in the Russian economy, led by growing domestic demand, increased investment, and profitable exports.
Russian And American Angels Touch Wings
On Monday, November 12th a select group of Russians and Americans active in angel and venture investment gathered near Boston, Massachusetts, USA, to share experience and to build bridges between investors in the two countries.
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