25.02.07

	The Alinga Market Update
Для перехода на Русский язык, в левом верхнем углу нажмите «Русская версия»	Welcome from Alinga! This issue of the Alinga Market Update is chock full of useful information for the accountants and managers in your company. From the most recent changes in legislation and tips on how to avoid the most common accounting mistakes to an overview of 2006 developments in the Russian labor market, this is an issue you will want to read and forward onto your colleagues. If you have comments, questions, or suggestions on other ways we can improve our site and newsletter, contact the editor at jwilson@acg.ru!
	Accounting and Audit in Russia
Accounting News: Cutting "Simplified" Companies   VAT Refusals Illegal	Common Mistakes in Russian Accounting Auditors often discover many of the same mistakes when conducting an audit. These mistakes are not related to the types of organizational and legal structures, forms of ownership, or types of activity of the businesses; they are general mistakes in accounting and tax reporting.    Developing an Internal Accounting Policy: Contents and Principles Your internal accounting policy is an instrument for increasing the efficiency of company resources. This policy allows you to regulate many of the processes of your business, to take advantage of the rights granted to business by the government and, as a result, to save time, energy, and money.
	Tax News
Tax News: Tax Relief for IT Companies   Foreigners to  Pay 18% VAT for Contract Services	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!   Explanatory Notes to Financial  Reporting in the Russian Federation: A How-to Guide Once again, it's time to prepare the annual financial statements. As a rule, explanatory notes are the source of the great majority of questions concerning these statements that are asked of the chief accountant. What these notes should addrress is the subject of the following article.
	Legal Updates
Legal News: Tax Amnesty Toothless	Common Errors in Documents of Incorporation Templates almost never fully match the needs of a particular business. Resulting problems can be varied — ranging from conflicts between participants or stalemates in the company’s decision-making processes to an increased level of risk of takeover by competitors.
	Human Resources
HR News:   Citizenship Inserts to be Replaced by Stamps	Find Job Vacancies Here                                                                          Find Employees Here   Lessons to Grow by: Russian HR in 2006 Looking back, we see that new laws and the realities of doing business in Russia have very strongly affected the personnel market, and we believe that the legislation enacted is intended to further develop civilized attitudes in society in general and in the labor market in particular.
	Business Resources
Other news:   Market News Archive	Registration Rules Changed Russia's new registration rules, as most of you have already heard, have caused considerable confusion among all involved with the visa and registration process. Ostensibly, the new rules should make things easier for foreigners on business and work visas by placing more responsibility with the inviting organization and less with the landlord who rents the foreigner accommodation. Tourist visas will still be registered by hotels.   However, as is often the case in the Russian Federation, the new law has been enacted without clarifying how it should be implemented. The result has been confusion and hardship for those involved.   For those who have not heard about the current situation - we recommend the following story from The Moscow Times.   For those who read Russian and are interested in what the new law exactly says, see the Federal Migration Service website.   The registration forms, issued by and available by local PVU offices across Russia, differ from city to city, so it will be best to receive them locally. An example of one to be used in Moscow is available here.   The implementation of the new law is still developing and will likely change quickly as authorities "feel out" something that works for them. We hope that by the next issue of Alinga Market Update, the requirements will be clear enough that we can spell them out for you here. Until then, make sure you question any agency providing you with visa support as to what will need to be done to get you registered and keep you legal. If the agency won't help or if they say it is your responsibility, we recommend you find another agency that is more helpful.