20Mar

Due to coronavirus, foreigners are restricted from entering Russia from March 18 to May 1

The order applies to all foreign citizens (including citizens of Belarus) and stateless persons. Also, the Ministry of Internal Affairs of the Russian Federation will temporarily not issue: invitations to enter the Russian Federation permits to hire and use foreign workers work permits for foreigners The Russian Foreign Ministry suspends the issuance and processing of […]

Posted by Awara
On March 20, 2020
0 Comments

27Feb

KPMG M&A Overview: In 2019, Foreigners Became More Willing to Invest in Russia

In 2019, economic growth slowed, but this did not affect investor activity ― last year showed the best investment results for the entire duration of the sanctions. KPMG experts calculated that the growth in the number of transactions in the Russian M&A market in 2019 is quite modest ― only 3% ― but the values […]

Posted by Awara
On February 27, 2020
0 Comments

13Feb

Transfer Pricing Documentation & Reports

We would like to remind you that all Russian companies which performed controlled transactions in the 2019 calendar year must notify the tax authorities by submitting transfer pricing reports by May 20, 2020. Starting from June 1, 2020, tax authorities may request companies to provide the relevant transfer pricing documentation that confirms the transfer prices […]

Posted by Sergey Minyailo
On February 13, 2020
0 Comments

31Jan

As Global Growth Stalls, The Russian Economy is Gathering Momentum

Russia’s New Government Set to Abandon Austerity. GDP Growth Expected to Accelerate. But, Those Global Uncertainties… There’s a lot going for the Russian economy as 2020 kicks into its second month. Russia’s government reshuffle is seen as removing austerity constraints and speeding up the financing of Putin’s ambitious national development programs. In his speech to […]

Posted by Jon Hellevig
On January 31, 2020
5 Comments

31Jan

Annual General Meetings of a Russian Subsidiary in 2020

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 January 31, 2020
0 Comments

29Jan

Major Changes in Russian Legislation for Business in 2020

CONTENTS Russia Is Switching to Electronic Labor Books There Will Be More Self-employed Workers The list of goods subject to mandatory marking will be expanded Personal income tax for non-residents will be decreased Russia Is Switching to Electronic Labor Books From January 1, 2020, any employee can write an application for the conversion of their […]

Posted by Awara
On January 29, 2020
0 Comments

28Jan

Russian Statutory Audit: Criteria, Characteristics, and Penalties in 2020

We want to remind you that every company is required under Russian law to conduct statutory audits of 2020 in cases when: From January 1, 2020 companies no longer need to submit audit reports to statistical authorities, only electronic versions to the tax authorities. The results of the statutory audit of accounting (financial) statements must […]

Posted by Sergey Minyailo
On January 28, 2020
0 Comments

15Jan

The Inflation Measurement Scam

Posted by Jon Hellevig
On January 15, 2020
5 Comments

15Jan

Russia VS America: Real Income Comparison

A Russian monthly salary of $1,600 gives at least the same standard of living as $6,000 in America A more competitive market economy and socially just society gives Russians much more value for money People in Russia and developing nations often look with awe and envy at the United States salary levels, thinking that the […]

Posted by Jon Hellevig
On January 15, 2020
13 Comments

14Jan

Scheduled Inspections for Russian Businesses in 2020

Every year the Prosecutor General’s Office of the Russian Federation publishes a list of companies that are subject for scheduled state inspections. You can find the inspection plan for 2020 here. Please also note that apart from the official plan, a number of unscheduled spot checks (e.g. a tax inspection) may be initiated by the state […]

Posted by Awara
On January 14, 2020
0 Comments

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