31Jan

What Reporting Are Participants of International Companies Required to Submit in 2019

Who Is Required to Submit the Additional Reporting From 2018, Russian organizations that are part of international groups of companies must annually submit additional documentation to the tax authorities ― the so-called “three-level reporting” on transfer pricing.[1] This includes: notice of participation in an international group of companies; country data on such international group of […]

Posted by Awara
On January 31, 2019
0 Comments

25Jan

Problems of Determining the Legal Status of the Self-Employed When Imposing Tax on Professional Income

Currently in Russia there is a fairly large category of the population working “for themselves.” We are talking about the so-called “self-employed”, who receive income from providing services to citizens without registering as individual entrepreneurs, or from the use of personal property. This includes babysitters, maids, housekeepers, designers, cooks, tutors, private drivers, dressmakers, photographers, hairdressers, […]

Posted by Awara
On January 25, 2019
0 Comments

28Nov

Don’t Lose Revenue in 2019 Because of a New VAT Rate

Due to Inaccurate Specification of Prices in Contracts Your Revenue Could Be at Risk. Check the Terms of Pricing in Your Agreements in the Context of Increasing the Tax Rate of VAT up to 20% Starting from January 1, 2019, the VAT rate will be set at 20% instead of 18%.[1] The new rate applies […]

Posted by Awara
On November 28, 2018
0 Comments

03Oct

Ensure Your Foreign Employees Are Registered in Compliance with Migration Regulation Requirements

President Vladimir Putin signed the draft law on introducing changes to the procedure for migration registration of foreign citizens in Russia. It specifies the address at which a foreign national or a stateless person must register after coming to Russia, as well as who is responsible for the registration procedure. Residence address Under the law, […]

Posted by Awara
On October 3, 2018
0 Comments

25Jul

VAT rate in Russia will be increased from 18% to 20% as of January 1, 2019

Vladimir Putin signed a bill increasing the rate of Value Added Tax from 18% to 20%. The increase will be effective starting from January 1, 2019. At the same time, Russia will keep the current reduced VAT rates (10% and 0%) for socially important goods and services. Thus, by the end of 2019 the budget […]

Posted by Awara
On July 25, 2018
0 Comments

18Jun

Reminder: Notification on the Membership in a Multinational Enterprise Groups and Country-By-Country Data

In the beginning of 2018 Russia began automatic exchange of tax information under the OECD Convention (Organization for Economic Co-Operation and Development) and introduced new reporting requirements for members of multinational enterprise (MNE) groups. What companies does the new law apply to? The new reporting must be filed by MNE groups with consolidated revenue over […]

Posted by Awara
On June 18, 2018
0 Comments

04Jun

Public Disclosure of Russian Companies Data Is Postponed

The Russian Federal Tax Service has postponed the launch of the “Transparent Business” project until August 1, 2018. The public disclosure of corporate data (except secret tax information) was to have been launched on June 1, 2018. The Tax Service plans to publish the data of all Russian firms. There’s however one exception: companies which […]

Posted by Awara
On June 4, 2018
0 Comments

31May

Major Changes in Russian Legislation for Business in 2018

CONTENTS Tax benefits for Russian companies engaged in training of high skilled workers Labor inspections in 2018 Tax on corporate movable property in 2018 Investment tax deduction in regions International automatic exchange of tax information Reimbursement of travel expenses Tax benefits for Russian companies engaged in training of high skilled workers According to the new […]

Posted by Awara
On May 31, 2018
0 Comments

16May

Registration of foreign citizens during FIFA World Cup 2018 in Russia

While Russia prepares for the main sport event of this summer, FIFA World Cup 2018, foreigners (including tourists, foreign employees, and other visitors) should remember about the temporary change in the migration rules. The new regulation will be effective starting from May 25, 2018 till July 25, 2018 and apply to the cities which will […]

Posted by Awara
On May 16, 2018
0 Comments

25Apr

Amendments to Russian legislation on currency regulation and control

Local and foreign companies in Russia that perform international business activities should draw their attention to the latest amendments to the currency regulation which will come into effect on May 14, 2018. Main changes: When making foreign trade contracts Russian companies will be obliged to include the following provisions: payment terms (including advance payment), period […]

Posted by Awara
On April 25, 2018
0 Comments

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