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14Jun

Russian Statutory Audit — Choose Your Auditor for 2017

Awara advises selecting an auditor of financial statements for 2017 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 2017 in cases when: It should be also noted that companies that conduct statutory audit of financial statements for 2017 must […]
31May

Registration of non-Russian citizens during FIFA Confederations Cup

This summer Russia will host the international football tournament 2017 FIFA Confederations Cup. Due to this event, the President of Russia Vladimir Putin has adopted Decree № 202 that temporarily changes the rules of registration of foreign nationals in a number of Russian cities. The decree applies not only to fans traveling to Russia to […]
10May

Transfer Pricing Documentation & Reports

We would like to remind you that all Russian companies which performed controlled transactions in the 2016 calendar year must notify the tax authorities by submitting transfer pricing reports by May 20, 2017. Starting from June 1, 2017, tax authorities may request companies to provide the relevant transfer pricing documentation that confirms the transfer prices […]
05Apr

Payroll Regulations in Russia

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 […]
24Mar

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 […]
17Mar

Staffing in Russia: Is Provision of Personnel Still Possible in 2017?

Some time ago, provision of personnel was a very widespread and successful business practice on the Russian labor market, allowing the transfer of some employees working in one company to another legal entity. In Russia, the most common name for such service is outstaffing, or staffing, or provision of personnel. In practice, this meant that […]
28Feb

Awara Assists with 2016 Individual Tax Returns

Plan Your Filings in Advance We are glad to offer our services aimed at simplifying the process of filing tax declarations. The main issues associated with this process are described below. While most taxpayers do not need to file tax returns in Russia, some categories of taxpayers do have to file tax return forms annually […]
17Oct

New Periods for Payment of Wages

Little time remains before the entry into force of the Federal Law dated July 3, 2016 № 272-FZ, which amends the old provisions of labor and administrative law, with respect to the periods for payment of wages and liability for their violation. As of October 3, 2016, the legislation establishes the obligation of employers to […]
19Aug

Statutory Audit: New Rules of 2016

As of 01.10.2016 audit results will become public. This change affects all companies subject to statutory audit, and assumes the obligation to enter information on the results of the statutory audit of accounting (financial) statements in the Unified Federal Register (http://www.fedresurs.ru). The following information must be entered in the Unified Federal Register: To log in […]
12Jul

Statutory Interest: How to Avoid Risks

It has been exactly one year since a new rule appeared in the Civil Code, consolidating the concept of “statutory interest” (Art. 317.1 of the Civil Code). This situation has caused much worry among business participants, mainly due to the lack of general legal practice on this issue. We have tried to find out what […]