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About Alinga | |
 15.02.09
Welcome from Alinga! Last year, Russia had more than 100 billionaires. This year, it has fewer than 50. Last year, the richest Russian was worth 40 billion dollars. This year, the richest Russian owns 14 billion in holdings – and it’s not the same Russian. This is all according to a new list just released yesterday from Finans Magazine.
For businesses who have survived this much of the crisis, there is some hope. Falling rents, salaries, and more pliable suppliers mean holding onto your business can be a bit easier. Many assets and businesses in Russia are now undervalued, meaning businesses with purchasing power are in a better position to grow. Lastly, those who read further will better know Russia’s legal, tax, and business environment – to know better whether to hold on or make a move.
Our next analytical issue, this time on mergers and acquisitions in Russia, will be out next month!
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 balance profits and losses earned by Russian companies in January – November 2008 dropped to 4.6 trillion rubles, which is the same as it was for the same period of 2007.
Pay Employees, Reduce Profit Tax Some organizations compensate workers for meals and public transportation. How to tax these expenses?
Parent Company's Debt May Be Forgiven By Subsidiary But Not By State Budget Forgiven interest does not decrease profit tax base.
Tax Lawyers Draw Tax Inspectors Hiring a lawyer, especially in cases against the tax authorities most often leads a tax inspection.
Vladimir Putin Approves Legislative Schedule For 2009 The Kremlin has recently published "The Russian Federation's 2009 Legislation Plan."
Don't Argue With Moscow Tax Inspectors It is now clear that it is dangerous to get into disputes with Moscow inspectors.
A businessman reported the loss of documents due to fire, but tax officers decided that they already had enough information about the income of the businessman.
Anti-Corruption Reforms Place Investigators Above The Law An update on the amendments planned for the Code of Criminal Procedure.
Medvedev Signed Law Limiting Government Powers In Business Inspections Russian President Dmitry Medvedev endorsed a federal law that will restrict governmental power to investigate business owners, including limiting officers’ rights to break procedural rules.
The importation of goods to Russia with the purpose of their subsequent sale without the consent of the legal owner to use the trademark may be outlawed.
Property Registration Simplified Now individuals and companies can complete all real estate registration procedures in one office – The Federal Registration Service (Rosregistratsia).
Administrative Violations To Be Fined Without Court Ruling Anton Ivanov, the Head of the Supreme Arbitration Court, has proposed to exclude courts from processing administrative violations.
FSB's PR Body Vows To Promptly Answer Questions Via Web Any Russian can ask the Federal Security Service (FSB) a question through the website of the FSB Public Relations Council, , and receive an answer, the Council's chairman said.
Medvedev Urges To Create Modern Patenting System In Russia There is still reason to worry in Russia about intellectual property rights.
Find Job Vacancies Here Find Employees Here
Moscow Employers Have To Compensate For Salary Delays Employers will be obligated to pay 1/200 of the refinancing rate per day on the amount owed.
Employees On Unpaid Leave Not Entitled To Disability Benefits If an employee on unpaid leave falls ill, employers are not required to pay disability benefits for that illness, Lydia Novitskaya declared on the hotline "Temporary Disability Benefit."
The authorities are losing battle with the growing unemployment. Army of the unemployed will average 5.5 million in 2009.
The Labor Market Smells Cheap Labor Salaries for new employees have already decreased, on average, by 19% and the number of employers who lowering wages will rise to 25% in the near future, according to recruitment agencies.
Real Incomes Of Russians Go Up By 3% In 2008 – Statistics The real disposable monetary incomes of the Russian population, except compulsory payments, adjusted to the consumer price index, went up by 2.7 percent in 2008 as compared to the year of 2007, according to Russian Federal State Statistics Service.
In Russia, Lawyers Are The Most Professionally Satisfied Street cleaners and freight handlers are Russia's least satisfied workers.
Small Business As Employment Service According to the director of the Ministry of Economic Development and Trade, Andrei Sharov, 300,000-400,000 new jobs must be created in 2009 as part of a support program for small business.
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.
Russia May Remove Work Restrictions For Foreign Students A group of delegates from the parties United Russia and The Liberal Democratic Party has submitted to the State Duma a bill that would remove work restrictions for foreign students during their study in Russian universities.
Young 'Pagans' Detained Over Series Of Moscow Blasts, Attacks Of Foreigners Six young Russian nationalists who are said to worship Old Slav deities are suspected of organizing a series of explosions and attacks on foreigners in Moscow over recent months, Russian television has reported.
Medvedev And Obama Had First Telephone Conversation Russian President Dmitry Medvedev and his U.S. counterpart Barack Obama confirmed that they sought to meet shortly.
Rental Prices Have Already Fallen Roughly 30 Percent To 40 Percent Cushman & Wakefield Stiles and Riabokobylko has forecast a drop in rental prices of 20 percent to 50 percent in electronics and appliances stores, 30 percent to 40 percent for the clothes and shoes segment, 20 percent to 30 percent for hardware and do-it-yourself shops and 40 percent for mobile-phone chains.
Fitch Sees Decline In Real Estate This Year The Russian real estate market is likely to see a decline that began late last year quicken in 2009, with prices falling by 20 percent to 40 percent for the year, Fitch Ratings said.
US Politicians Ready To Waive Jackson-Vanik Influential American politicians and business circles are ready to actively press for waiving the Jackson-Vanik amendment.
Coca-Cola To Invest $1.2 Bln In Russia Over Next 3-5 Years Coca-Cola plans to invest about $1.2 billion in the development of its production facilities in Russia over the next three to five years, Zoran Vucinic, the company's president for Russia, Ukraine and Belarus, said at a conference in Moscow.
Survey: Ruble Stabilization - The Mechanics Since announcing a new upper boundary of the target trading band for the euro/dollar basket at 41 rubles on January 22, the Central Bank has repeatedly confirmed that it is serious about keeping the Russian currency within this corridor.
Russian President Dmitry Medvedev said Wednesday he believes that special attention should be given to the development of small business now that the economy has come to grips with a crisis.
Rough Landing Predicted For The Russian Economy Pessimistic predictions for the Russian economy in 2009. Growth forecasts from state officials and experts are increasingly grim.
Hopes For Quick Improvement Vanishing Amid Economic Slowdown – Poll The number of Russians hopeful of the government ability to improve the economic situation in the near future is on decline amid the global slowdown, Levada Center told Interfax.
According to the Center of Macroeconomic Analysis and Short-Term Forecasting (CMASTF), stagflation has come to Russia.
Moscow Police Head Does Not Rule Out Protests Because Of Crisis The possibility that a worsening of Russia's economic situation could cause protests in some cities across the country, including Moscow, cannot be ruled out Moscow police chief Col. Gen. Vladimir Pronin said.
The Crisis Hasn't Reached The People Poll results reveal opinions about the economic crisis. Most Russian citizens don't see the crisis as their problem.
Russia's Economy To Grow By 1% In 2009, Ukraine's To Drop By 5% - EBRD The European Bank for Reconstruction and Development (EBRD) expects Russia's economy to grow by one percent by the end of this year, EBRD President Thomas Mirow told reporters.
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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