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About Alinga | |
 21.01.08
Welcome from Alinga!
What do you think of Russia's long New Year's holidays? Is it difficult to get employees back at their work station and back to being productive? Are the holidays prohibitively expensive in lost productivity? On the other hand, do they allow managers time to rest, reconsider business directions, and come back with fresh ideas? Perhaps the holidays allow your foreign employees a convenient time to travel long distances to visit their families, contributing to employee moral? We would love to hear any opinion or anecdote you have concerning this issue! The best of the submissions will be published (anonymously, unless you request otherwise) next month in our next issue. Submit in Russian or English - we will translate published submissions to create an informative and bilingual compilation for our readers. Email your submissions to jwilson@acg.ru.
If you have comments, questions, or suggestions on other ways we can improve our site and newsletter, please contact the editor at jwilson@acg.ru! To subscribe to this newsletter, send an email with "Subscribe Alinga" in the subject field to jwilson@acg.ru.
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!
Tax On "Windfall" Profits: Businesses May Need To Share Surplus Profits From Privatization The bill will concern about 200 major companies, mostly from the fuel and energy complex, and the mining, metallurgical and chemical industries. It could take force January 1, 2009.
Customs Taxes Now Only In Rubles The administration of the Federal Customs Service suspended the option to pay customs fees, taxes, advance payments and monetary deposits to the custom authorities in foreign currencies as of January 1, 2008 until December 31, 2008.
Maximum Profit Amount Set For Those Transitioning To Simplified Taxation A company may not have made more than 18,615,000 RUR in profit during the first nine months of 2007.
FTS Must Reimburse Reputational Harm If actions of the employees of the Federal Tax Service (FTS) caused harm to company's reputation, in addition to direct loss or missed profit, the fiscal administration must pay the company appropriate compensation.
Tens Of Thousands Of Companies Will Have To Change Their Names A new chapter of Russia's Civil Code prohibits using official names of states (Russian and foreign) in business names.
Implementing Control Over Foreign Officials' Transactions Suspended Until May 15 Amendments to the law "On Counteracting the Legalization of the Proceeds from Crime," obligate banks to document information about individuals or organizations who make wire transfers and financial transactions.
State Duma Will Consider A Draft On Registration Of Legal Entities The draft suggests several amendments to the Administrative Code of the RF to strengthen existing punishments and introducing new penalties.
New Committees And Chairs Named In Russian State Duma The structure of the State Duma has been changed significantly.
Issuance Of External Passports Tightened A unified passport for Russians traveling internally and abroad will not be implemented in Russia, according to the director of the Federal Migration Service.
The application fee for non-immigrant U.S. visa will rise from $100 to $131 starting January 1, 2008. Russia has, by its rule of reciprocity, raised the minimum charge for Russian visas issued to Americans to $131 as well.
Find Job Vacancies Here Find Employees Here
Invitation Quotas For Work Visas The Russian goverment approved a work visa invitation quota for 2008 totaling 672,304 invitations.
New Method For Calculating Average Pay The new method calls for average daily earnings from vacation allowances (accounted in calendar days) and for compensation paid for unused vacation time to be calculated by dividing the salary amount of the accounting period by 12 and dividing by the average monthly number of calendar days (29.4).
Review of Russian Economic News in English This review is produced monthly by the US Russia Chamber of Commerce of New England (USRCCNE). Alinga Consulting Group is a USRCCNE member.
Russian And European Experts Discuss Registration Procedures At the first meeting of the Russian-EU visa dialog to be held in Moscow, experts discussed registration procedures for foreigners in Russia, announced in a press-release from the office of the European Commission.
Pension Tax Is Not For All Foreign Employees Pension tax payments towards mandatory pension insurance are not to be charged from foreign employees holding temporary residence in the Russian Federation.
Restrictions To Foreigners Access To Strategic Subsoil Deposits May Be Softened Decisions would be made on an individual basis for each field deposit and the list of criteria will be established by the government.
Regulations on Labor Activity Of Foreign Citizens The Ministry of Public Health and Social Development of the Russian Federation approved a list of professions and duties that foreign citizens will be permitted to perform in specified cases outside of the location where their work permit was issued.
Americans Can Vote Online in Demcratic Primary Democrats Abroad, an official branch of the party representing overseas voters, will hold its first global presidential preference primary from Feb. 5 to 12, with expats selecting the candidate of their choice by Internet as well as fax, mail and in-person at polling places in more than 100 countries.
While an economic slowdown in 2008 is probably unavoidable, Russia could also see another boom in growth in 2009-2010, as potential investments to agriculture and timber bring the potential of those industries online. Given that Russia's current political system will most likely continue for the next four to eight years and will continue to favor state-led growth, and given that Russia's next president has specific interest and contacts in these two underperforming sectors, those investments and that boom are likely just over the horizon.
New-Years Shopping Speeds Up Inflation During the last week of December 2007, Russia’s monetary base increased by over 250 billion rubles.
Bank Of Russia Posts Real Effective Ruble Rise For 2007 The ruble gained 14.8 percent against the US dollar, and 5.7 percent against the euro.
Have questions on any issue above? Ask the Expert! More about services from Alinga Consulting Group
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