 | more info |
 |
 |
 |
 |
|
|
|
About Alinga | |
 07.08.08
Welcome from Alinga! This quarterly analytical issue of the Alinga Market Update focuses on the tax, accounting, legal, and HR implications of investing in real estate in Russia. With rising prices, it seems more companies are looking to invest in Russian real estate, either for profit or as a way of avoiding skyrocketing rental costs. However, Russian legislation is still vague or even contradictory on several basic points and the tax authorities often use this to their own advantage when attempting to extract more taxes from a company in the course of their audits.
In this publication, Alinga hopes to prepare you for possible pitfalls in the process, so that your investment will be a successful and profitable one! As always, we've also included many articles of interest to anyone doing business in or working in Russia.
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.
Buying And Selling Real Estate In Russia: VAT And Profit Tax Concerns Although Russian real estate is becoming an increasingly popular target for investors and businesses alike, Russian legislation is still unclear on how transactions involving real estate should be taxed.
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!
Foreign Organizations And Corporate Property Tax On Residential Property In Russia This article addresses in detail legislation affecting the registration and taxation of residential property belonging to foreign organizations in Russia.
Recently, one of Alinga's clients successfully defended itself in court against the Tax Authorities. We believe that the case may be of interest and help to other businesses as well.
Financial Documents In A Foreign Language Recently, a businessman filed receipts in a foreign language and the Tax Inspection refused to accept and examine the receipts, explaining that the taxpayer did not submit translations for the documents.
Illegal Tax Schemes Are Passing Away Less back taxes are being demanded by the agency on the basis of having discovered a tax scheme in use.
Audit Licensing Activities Stop Jan. 1, 2009 It is expected that industry associations will take over regulation of their industries after licensing ends.
Tax Status Of Branches And Rep Offices In Russia The tax status of a branch or a representative office depends on whether it represents a Russian or a foreign company.
70 Percent Of Tax Inspections Result In Criminal Suits The remaining 30 percent voluntarily recalculate their taxes rather than take the matter to court.
Medvedev Gives Tax Breaks To Small Business The new amendments to the tax law largely simplify and clarify existing law to the benefit of small businesses. A method for calculating taxes on dividends for those firms who pay unified agricultural tax has been spelled out.
New Federal Law On Amending Part 2 Of The RF Tax Code The changes are focused on the new preferential tax treatment of educational and medical costs of companies, mortgage taxation, new tax rules for depreciation of fixed assets, and a new preferential tax regime for certain types of oil extraction in hard-to-access regions of the Russian Federation.
This article will briefly overview the legislation that regulates commercial property in Russia in order to help potential investors better understand the law and the required processes.
Outsourcing – Is it Legal? The head of the board of tax inspectors said that in one case they decreed it a "theft of state funds by means of tax underpayment."
Border Control's Powers Extended On July 22 a new decree will take effect, which will allow border patrol agents to extend visas for up to three days.
The Federal Customs Service announced that the customs system is set to be overhauled. Many fear that such a change will only lead to much greater processing times.
What Is Allowed At The Border Checkpoints Insurance venders, currency exchanges, and even coffee vending machines are no longer allowed at boarder points into Russia.
A New Method Of Anti-Raider Defense A stockholder whose share was decreased due to a dilution of charter capital has the right to demand recovery of this former position in the company.
Labor Inspection To Control Benefit Payments The first two days of temporary disability are paid at the employer's expense. Starting with third day of temporary disability, benefits are paid from the State Social Insurance Fund.
Russian Language Becomes A Citizenship Requirement Applicants for Russian citizenship will have to submit a language certificate along with the other documentation.
Find Job Vacancies Here Find Employees Here
It is not unusual for people today to spend 56 hours or more per week in the office. This accounts for nearly a third of an employee's adult life, making the office the "home away from home" for contemporary businessmen and women.
Economists are concerned that unused labor resources may be reaching their limit. In other words, the extensive model of economic growth is running out of steam; Russia needs investment and higher labor productivity.
Foreigners As Employees The courts have confirmed that the standards established by labor legislation apply to dealings with foreign citizens, unless otherwise stipulated by international agreement.
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.
Law On Visa Registration The amendment would allow hotel administration to verify that the foreign worker has been counted by the migration record, by marking it in the detachable part of the registration form.
No More Russia-EU Visas In A Few Years Russia and the European Union are ready to cancel visa procedures in two or three years, stated chairman of the Russian State Duma Foreign Affairs Committee Konstantin Kosachev.
Work Permits Quotas For Foreigners May Be Put Off The Federal Migration Service (FMS) has suggested abandoning quotas for foreign workers.
Calculation Of Time For Determining Tax Residence Status Can days of arrival and departure from the RF be calculated as days of a person's actual presence in the country for the purpose of determining their status as a tax resident?
The portion of Russia's GDP generated by small and medium enterprises (SMEs) is estimated at 13-17%. China's officially released data for 2005 (the most recent available) showed SMEs in that country accounting for 55% of its GDP.
Small And Mid-Sized Business Declining 40 percent of Russia's small and mid-sized businesses are unlikely to last to the end of the year.
Economy Away On Holiday Russia’s statistics authority Rosstat reported stagnation in June in defense and industrial production, food, timber, oil, and construction materials.
Positive Demographic Tendencies Continue In Russia The birth rate increased by 9 percent from the first half of 2007 with 680,000 children having been born, and the natural mortality rate decreased by 18 percent.
Economic Development Ministry Ups Inflation Threshold The RF Economic Development Ministry has increased upper threshold for 2008 inflation from 10.5 percent to 11.8 percent
Have questions on any issue above? Ask the Expert! More about services from Alinga Consulting Group
|
|
© 1999 - 2012 "Alinga Consulting Group" consult@acg.ru
|