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About Alinga | |
 15.04.08
Welcome from Alinga!
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!
Expenses For Repair Of Leased Property May Not Be Included As Amortization When expenses directed to the current maintenance of property assets in operating condition, these expenses must be included with miscellaneous expenses as a repair cost.
Taxation for IT is currently in flux. There are a handful of specific tax breaks already in place, although they have done little to actually spur the industry or to significantly reduce its tax burden.
Declaring Personal Taxes in Russia This fully up-to-date article says all you need to know about paying personal income tax in Russia! You've still got time to avoid the fines! 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!
Foreigners And Taxes (UST and Income Tax) If, during the 12 months prior to the salary payment, a foreigner resided on the territory of Russian Federation less than 183 days, he is not considered a tax resident and his income received from sources on the territory of RF is taxed at a rate of 30%. After an employee is considered a tax resident of RF according to Article 207 of the Tax Code, he is subject to 13% tax rate.
No Transport Tax For Unused Vehicle According to a recent court ruling, if you create no expense to the state, the state cannot charge you taxes on your car.
Tax Burden on Oil Eased for 2009 Deputy Prime Minister and Finance Minister Alexey Kudrin announced yesterday that, instead of a reduction in VAT, the government will lower the mineral use tax, reducing its collection by 100 billion rubles.
Outsourcing May Be Forbidden For Companies Using Simplified Taxation Many small companies using the Simplified Tax System (STS) provide various services to large companies.
Soon Russia will have terminals in banks and post offices that can be used to pay taxes, said the Federal Tax Service (FTS).
Licensing Of Auditing Companies May Not Be Discontinued "Licensing [of auditing services] will be discontinued only when it is replaced with another mechanism of civic supervision for auditing companies," – explained Leonid Shneidman, Director of the State Finance Control, Audit and Accounting Department of the Ministry of Finance.
Voluntary Medical Insurance With Foreign Insurers Will Not Decrease Income Tax If a Russian company with a branch abroad insures its personnel (Russian citizens) through a foreign insurance company that does not hold a license according to requirements of Russian legislation, the company may not write off these expenses from its profit tax base.
How Recent Legislative Changes Will Affect Russian IT
Duma May Equate Corporate Raiding With Theft According to the proposed draft, fraudulently attaining rights of ownership, use and management of assets of a legal entity is viewed as an aggravating circumstance to the theft.
Customs Service Narrows The "Green Line" According to proposed regulation some businesses involved in export/import may lose their right to use the "green line."
Financial Market Liberalization Proposed The Federal Financial Markets Service is proposing tax benefits for participants in the Russian financial market. The move is intended to create a powerful influx of funds into Russia and make the country a world financial center by 2012.
Internet Registration To Encourage Small And Medium Business Soon new companies in Russia may be able to get registered via Internet, announced deputy prime minister Alexander Zhukov at the Russian Economic and Financial Forum in Switzerland.
Moscow Migration Service Offers Processing Of External Passports At The Workplace The FMS believes that this free innovative service will simplify life not only for recipients but for FMS employees as well.
Russian Legislation On Qualification Of Foreign Securities Adopted changes eliminate a legal vacuum in regards to foreign securities.
Find Job Vacancies Here Find Employees Here
Update On Work Permits and Work Visas The work permits quota has been declared full. Requests for employment of foreign workers for 2008 are being rejected if they were submitted after May 1, 2007.
New Regulations For Submitting Notification Of Employment Of Immigrant Workers Governmental authorities confirmed changes to regulations surrounding the notification of government offices by employers or contractors about the employment of immigrant workers by employers or contractors, and approved a new notification form.
Over a third of working women cannot see themselves as homemakers. The rest would require a family income of 100,000 RUR per month to leave the job market.
Moscow Employers May Be Obligated To Feed Employees Whether meals will be provided free or paid for as a bonus to the workers would be up to the employer.
Foreigners Holding Executive Offices Can Work Outside Of Work Permit Territory The Ministry of Public Health and Social Development added to the list of professions, occupations, and work positions, which allow foreign citizens to conduct work activity outside of the territorial subject of RF where their work permit was issued.
Employee’s Recreation, Company’s Profit Stress relief at the work place bears not only health benefits, but also generates profit for the company.
Outstaffing Expenses May Be Diversified Companies using outstaffed employees may not write off expenses for those employees' traveling, lodging, meals, training and certification from their profit tax.
Inside the Market: An Interview with the CEO of GGA Software Services Richard Golob, President and CEO of USRCCNE member company GGA, recently spoke with our editor about the current state and possible future of Russian IT outsourcing in a competitive global market.
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.
Duma Suggests Turning Migration Control Over To Private Companies According to authors of the draft, the new law must obligate organizations applying for licenses to provide labor migrants with registration and living space, medical, social and pension insurance, and also training in "basics of living in the country with knowledge of the main laws."
Draft Bill Would Return to Hotels the Power to Register Foreigners Directly The draft bill suggests giving hotels the right to place the registration mark on the removable part of migration cards, stating that the inviting party and foreign citizen have fulfilled all necessary actions for migration registration.
This article by ACG partner company the School of Russian and Asian Studies details Novosibirsk, which is currently hosting one of Russia's most successful special economic zones for innovation.
Resource Extraction and Export
New Law on Foreign Investment (PDF - login)
No Bank Accounts For Offshore Companies Alinga has been informed that several large banks have stopped opening accounts for foreign companies registered in offshore zones or registered less than one year ago.
Certain aspects of semantic web, what researchers are calling the new highly integrated Internet that will someday allow us to live our lives almost entirely online are finding its way into Russia, but the process is slow.
Have questions on any issue above? Ask the Expert! More about services from Alinga Consulting Group
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Two major pieces of legislation that some might assume would improve the business environment for Russian information technology (IT) companies are not likely to make a major impact. 
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