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06Sep

The Government and Business Approve New Steps to Improve Business Climate in Russia

The Plan of the Ministry of Economic Development for the Transformation of the Business Climate Was Supplemented with New Measures Vladimir Putin set an ambitious goal for the Ministry of Economic Development: by 2024, Russia should rise to 20th in the World Bank’s Doing Business rating (now our country occupies 31st place out of 190). […]
  • Posted by Awara
  • On September 6, 2019
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02Sep

Purchasing Power Parity Adjustments (PPP)

In order to properly understand the importance of the PPP method, we start by republishing here an article we earlier wrote on the topic under the heading Why the PPP method is more accurate for GDP comparisons.[1] According to figures from the IMF, Russia’s GDP exceeded $4.2 trillion in 2018. By this measure, Russia is […]
  • Posted by Jon Hellevig
  • On September 2, 2019
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29Mar

Payroll Regulations in Russia in 2019

The goal of this article is to outline the most important payroll regulations in Russia, including calculation and payment of salaries, social benefits, and other expenses. The following information will primarily serve as a guide for companies which recently established or plan to start their business in Russia. You can also find key facts in […]
  • Posted by Awara
  • On March 29, 2019
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26Mar

Russia’s industry expanding and war chest swelling while global economic outlook turns gloomy

Awara Accounting Russian economy brief March 2019 The year has started on a very optimistic note for Russia. It’s been so good that the liberals are crying foul. Industrial production keeps climbing up. After a strong performance in 2018, industrial production grew 2.6% in January through February, including by a staggering 4.1% in February. The […]
  • Posted by Jon Hellevig
  • On March 26, 2019
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15Mar

Transfer Pricing Documentation & Reports

We would like to remind you that all Russian companies which performed controlled transactions in the 2018 calendar year must notify the tax authorities by submitting transfer pricing reports by May 20, 2019. Starting from June 1, 2019, tax authorities may request companies to provide the relevant transfer pricing documentation that confirms the transfer prices […]
  • Posted by Sergey Minyailo
  • On March 15, 2019
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25Feb

Annual General Meetings of a Russian Subsidiary

Remember to Properly Hold and Document the Annual General Meeting of Shareholders of Your Russian Firm This time of the year all Russian companies should hold Annual Shareholders Meetings. Even when a formal meeting is not held it is important to make proper records and documentation of all shareholders’ decisions. Unfortunately, corporations frequently fail to […]
  • Posted by Eugene Isaev
  • On February 25, 2019
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20Feb

Russian Statutory Audit — Choose Your Auditor for 2019

Awara advises selecting an auditor of financial statements for 2019 and recommends making a choice right now. We want to remind you that every company is required under Russian law to conduct statutory audits of 2019 in cases when: From January 1, 2020 companies no longer need to submit audit reports to statistical authorities, only electronic […]
  • Posted by Sergey Minyailo
  • On February 20, 2019
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