06.11.08

When organization receives a new business license, changes to the organization's accounting policy may be introduced starting with the fiscal period in which the license was obtained. This is according to the Letter of the Ministry of Finance #03-03-06/2/136 from October 3, 2008.

This is especially applicable for banks new licensed as securities brokers which will trade securities on their own behalf. According to regulations of Article 313 of Russia's Tax Code, for tax purposes, accounting policy must be re-defined for any new business activity. 

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