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About Alinga | |
 16.01.09
Welcome from Alinga! As the world watched the inauguration of Barack Obama, many held the hope that a new, charismatic leader could guide the nation out of its current economic morass. However, while a charismatic leader can do much, the devil is always in the details. What will happen to commodity prices, unemployment figures, world markets and exchange rates? What programs will the government adopt, will they be supported, and will they be effective? As Russia and America enter their most uncertain year in more than a decade, leadership will be critical. But even more critical will be how the government as a whole acts, what relationship it takes to businesses, and how millions of consumers react to what will likely be increasingly shocking figures and events.
As these events unfold, we'll keep our eye toward the details – at least those arising in Russia. The legal turns, changes in visa policy, reforms to accounting and tax policies, and other minutiae that will affect the course of your business and our economy over the next year.
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!
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!
The New Law "On Auditing" Came Into Effect The new law is to change the current system of regulating auditing activities. Licensing will be eliminated and replaced by self-regulating structures and guidelines based on common standards of auditing activities.
Simplified Taxation For Internet Companies A new taxation system for internet companies has been suggested in a new draft bill for regulating the internet. According to the bill, VAT, profit tax and property tax are to be replaced by a so-called "single tax."
Tax Police Were Dissolved In Moscow Office for combating tax crimes of the General Directorate of Internal Affairs in Moscow ceased to exist.
Property Received Free Of Charge From Russian Or Foreign Parent Company Property received without compensation by a Russian company from a foreign parent company is not counted towards a company's profit tax base.
Medvedev's Draft Law On Gubernatorial Elections Seen Strengthening Parties' Role Dmitriy Medvedev has submitted draft laws to the State Duma that give the parties that won the regional elections the right to nominate gubernatorial candidates.
Property As Security Deposit In Bankruptcy Procedures The Supreme Arbitration Court drafted a bill that will make it more difficult for a bank to foreclose on property offered as security on a loan prior to company's bankruptcy.
A new federal law, which has just passed its first reading in Russia's Duma, would boost the income of Russia's regions.
"On Amending Article 172 of the Federal Law 'On the Foundations of Tourism in the Russian Federation'" has passed its first reading.
Moscow Paper Says Regional Economic Policy Leading To 'Disintegration Of Russia' The basically prohibitive import duties on motor vehicles from abroad came into force recently (January 11). Their introduction indicates that the government is not giving much thought to the need to maintain a considered regional economic policy, and that is leading to the economic disintegration of Russia.
Moscow Authorities Plan To Help Small Businesses In Time Of Crisis In this year of crisis, the Moscow City Government has promised to lend maximum help to small and mid-sized businesses.
Few Russians Think That The Constitution Is Playing Any Important Part Sociologists discovered that only every fifth Russian believes that the Constitution guarantees his or her rights and freedoms. Every third Russian on the other hand does not think that the Constitution is playing any significant part in the life of the country because few "mind" it.
Putin Orders Creation Of Working Group To Support Strategic Enterprises Putin referred to several mechanisms of support to enterprises. "These measures will include loans to enterprises, including against governmental guarantees, participation in their capital, subsidizing of loan interest rates, governmental contracts, and rescheduling of tax debts or the granting of tax credits," he said.
List Of Companies Guaranteed Assistance From The State Is Published Premier Vladimir Putin instructed the government to compile the list of companies that could count on assistance from the state on December 15.
Future Earnings Cannot Be Frozen Courts only have the right to block freeze current assets of a debtor, but not assets earned in the future. This is stated in the ruling of the Federal Antimonopoly Service of the Ural District from October 22, 2008 # F09-7707/08-S1.
Officials Disagree On How To Regulate Commerce The Federal Antimonopoly Service proposes to limit retailers' turnover, while the Ministry of Agriculture wants price regulation.
Public Chamber Slams Bill Banning Jury Trials In Terrorism, Espionage Cases The Russian Public Chamber has negatively assessed a bill approved by the State Duma that bars juries from trying cases opened into crimes committed against the state and cases related to terrorism, extremism, high treason and espionage.
State Secret Passed On To Foreign NGOs Is Called Espionage The Russian government has introduced amendments to the Criminal Code, Articles 275 (Treason against State) and 276 (Espionage) and introducing Article 283 (Commentary).
Naryshkin Calls On Oversight Bodies To Ease Pressure On Business Oversight bodies must ease pressure on businesses and off-schedule inspections of Russian enterprises should only be conducted with a prosecutor's sanction, Presidential administration chief Sergei Naryshkin said.
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Russia's State Duma deputes approved in its third and final reading a bill that would allow those resigning from their jobs eligible for the same unemployment benefits as those dismissed due to staff reduction.
New Tax Incentives For Employers New tax breaks for employers came into effect on January 1, 2009.
Moscow authorities propose charging a fee on employers hiring migrant workers. They hope that this new tax will encourage employers to hire more Russian citizens.
Russian President, Minister Discuss Demographic Policy Russian President Dmitry Medvedev and Minister of Public Health and Social Development Tatyana Golikova discussed issues of demographic policy and measures to support motherhood and children, at a meeting in the Kremlin.
There is much more HR information available in the Russian version of this same newsletter!
Review of Russian Economic News in English This review is produced monthly by The School of Russian and Asian Studies, the US-Russia Chamber of Commerce of New England (USRCCNE), and Alinga Consulting Group.
Alinga partner company, The School of Russian and Asian Studies, has produced an review of news surrounding the conflict over transporting Russian gas through Ukraine that left several European countries with fuel shortages.
Moscow Metro To Get About Ten New Stations By 2015 About ten new stations will be built in the Moscow metro system by 2015, Moscow City's chief architect, Alexander Kazmin told a news conference.
A New Benefit From Foreign Airlines The Federal Antimonopoly Service (FAS) of Russia proposes that the "compensation payments" paid by foreign airlines to fly over Russian territory be used to modernize Russia's outdated air traffic control services.
Russia In 2009: Darkest Before The Dawn Expect 2009 to be a mirror image of 2008 - a bad market environment for the 1st half leading to a stronger market in the 2nd half.
Govt Must Give Example Of Rational Use Of Resources – Putin The government must give an example of rational use of resources and optimize federal programs and plans of state-run companies, Prime Minister Vladimir Putin said at an economic conference.
Russian Lawmakers See In New Year With 'Optimistic Realism' Russian parliamentarians view prospects for Russia in 2009 from the position of "optimistic realism," stated chairman of the committee on state development in the State Duma lower house of the Russian parliament Vladimir Pligin.
Loans Borrowed In Dollars Will Be Paid Back In Rubles German Gref, the head of Sberbank, ordered the bank to cease issuing foreign currency loans to private persons for an indefinite period.
Have questions on any issue above? Ask the Expert! More about services from Alinga Consulting Group
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Review Of Recent Changes To Tax-Related Legislation In The Russian Federation
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