Bellerage Quarterly 1/21: SME register is now updated monthly | News -

Bellerage Quarterly 1/21: SME register is now updated monthly

New legislation came into power, according to which the register of small and medium enterprises (further referred to as ‘register) has started to be updated every month. Previously, companies could enter it only once a year – in august.

Companies with the status of SME have the right to enjoy several benefits, among which are: lower premium rates (combined rate amounts 15%) concerning payments to the employees, that exceed minimum wage. To enter the register, a Russian company must satisfy the following criteria:

- Revenue does not exceed 2 billion roubles per year;
- Average number of employees per year does not exceed 250 people.

Besides, in case a Russian legal entity is owned by a foreign company by more than 49%, the foreign company also must satisfy the described criteria and not be registered in an offshore area.

Confirmation of compliance of the foreign participant to all the conditions and submitting of all the required documents to the tax authorities can be done by audit organizations.

Bellerage’s consultants are always glad to help you with analyzing the opportunities of getting the SME status or/and verifying the reporting of corresponding international organization.

For more information about the most prominent changes in Russian business legislation - read Bellerage Quarterly.
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