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17Dec

New Corporate Income Tax Rates Beginning in 2025

We remind you that starting on January 1, 2025, the tax rates on corporate income tax will change by virtue of Federal Law No. 176-FZ dated 07/12/2024 “On Amendments to Parts One and Two of the Tax Code of the Russian Federation”. The main innovations affect, among other things, the corporate income tax. At the […]
  • Posted by Awara
  • On December 17, 2024
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01Sep

Law on Crypto Mining in Russia

Mark your calendars: on November 1, 2024, a bill on the legalization of mining will come into force. This comes as good news for crypto aficionados and businesses battling sanctions alike. Previously, cryptocurrency mining activities were not regulated in any way. It is expected that the innovations will help businesses to bypass sanctions and affect […]
  • Posted by Awara
  • On September 1, 2024
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05Mar

Changes to the Salary Requirements for HQS

From March 1, 2024, the salary requirement for highly qualified foreign specialists (HQS) is changing: instead of 167,000 rubles per month, the value is set at 750,000 rubles (before taxation) per quarter (250,000 rubles per month or 3,000,000 rubles per year). There are few exceptions: they mainly concern medical, pedagogical and scientific workers, as well […]
07Feb

Individual’s Cash Flow Statement (CFS) on Foreign Account

If you live in Russia for most of the year (i.e., you are a resident) and you have an account (bank or brokerage) outside of Russia, you may have to send a cash flow statement to the tax authorities. When you don’t have to do anything You don’t have to file a CFS if two […]
  • Posted by Awara
  • On February 7, 2024
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05Feb

Transfer Pricing Documentation & Reports

We would like to remind you that all Russian companies which performed controlled transactions in the 2023 calendar year must notify the tax authorities by submitting transfer pricing reports by May 20, 2024. Starting from June 1, 2024, tax authorities may request companies to provide the relevant transfer pricing documentation that confirms the transfer prices […]
  • Posted by Sergey Minyailo
  • On February 5, 2024
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05Oct

Fines for Errors in Maintaining Military Records of Employees Have Increased

Keeping military records in the company is nothing new. Until October 2023, fines for improper maintenance of such documentation were modest, and inspections were rare. Now fines have increased significantly, and attention to documentation has been intensified. Therefore, Awara recommends checking how this process is organized in your company. Who is obliged to keep military […]
  • Posted by Awara
  • On October 5, 2023
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06Sep

How to Open a Company (LLC) in Russia: What Documents are Required and What to Consider

We have prepared a brief guide for foreign investors on opening a company (LLC) in Russia. In the article we draw attention to the required documents, the choice of company participants and organizational procedures. Founders / Owners/ Shareholders According to Russian legislation, individuals, as well as legal entities can establish an LLC, provided the following […]
  • Posted by Awara
  • On September 6, 2023
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11May

“Call ” and “Buyback” Options for Ownership in a Company. Why These Instruments Might Be of Interest to Russian and Foreign Businesses.

What are the options, and why are they needed? Under Russian corporate law, it is possible to conclude “call” and “buyback” options for ownership in a limited liability company (LLC). These transactions represent a fast and convenient way to transfer ownership in an LLC and can significantly reduce legal and economic risks. Currently, options are […]