Partner - Accounting & Payroll Methodology
In this month's Market Update, you'll find many articles to explain recent developments in taxation, audit, legal, and accounting in Russia. Let us know if you have any questions. You can now watch fragments of Alinga's popular webinars on its growing YouTube channel (in Russian).
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In 2019, Mandatory Labeling Will Be Required For Certain Goods In Russia
The Government of the Russian Federation has approved the list of groups of goods for which in 2019 mandatory labeling will be introduced (Ordinance No. 792-p, dated April 28, 1998). The same document establishes a timeline for its implementation. Thus, for tobacco products, the labeling will be introduced on March 1, 2019, and for shoe products, on July 1, 2019.
Is Separate VAT Accounting Required When Exporting Services?
Situation: A Russian organization provides equipment for rent to a non-resident, in particular a Kazakh company that has no representation in the territory of the Russian Federation. In addition to this type of service, the Russian company also sells goods (works, services) within the territory of the Russian Federation (VAT rate 18% and 10%), and also exports complex goods (equipment) (VAT rate 0%)). Is the transaction for leasing equipment subject to VAT? Does it require separate VAT accounting?
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!
Russia Introduces Amendments to IFRS Standards
The new changes establish fundamental principles that underlie the preparation and presentation of accounting and financial reports for external users. Specifically, this includes a number of amendments to such standards as IFRS 2 Share Based Payments, IFRS 6 Exploration and Evaluation of Mineral Resources, IAS 1 Presentation of Financial Statements, IAS 37 Provisions, Contingent Liabilities and Contingent Assets, and many others.
Organizations Illegally Registering Foreigners To Be Held Criminally Liable
Amendments have been introduced to define the consequences for “fictitious registration of a foreigner,” which was previously defined in a previous set of amendments. This concerns both temporary and permanent registration for foreigners and stateless persons at their place of residence in both residential and non-residential premises.
Fighting "Rubber Offices:" New Rules For Registering Foreigners
July 29, 2018 and October 11, 2018 Amendments were made to the Law “On Migration Registration of Foreign Citizens and Stateless Persons in the Russian Federation” (hereinafter referred to as the Law), on November 12, 2018, amendments were made to Article 322.3 of the Criminal Code of the Russian Federation.
Five Notifications Employers Of Foreign Workers Must Send To Russia Government Agencies
When a company hires a foreign worker, it must notify the Ministry of Internal Affairs and the FSB when certain events occur. And you need to notify about any foreigner, even those with permeant residence permits. Here are five such situations.
Tax Monitoring Becomes Popular in Russia
The number of companies joining Russia's tax monitoring or "horizontal monitoring" is on the rise.
Tax Collection in Russia Soars 22% in 2018 Thanks to Improved Efficiency and Shadow Economy Crackdown
Almost nine out of 10 large Russian companies say they are wary of looming U.S. sanctions, according to a new survey conducted by a private consulting firm.