Home › 

News & Blog

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
    • Read More
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
  • 9 Comments
    • Read More
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
    • Read More
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
  • 1 Comments
    • Read More
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
  • 1 Comments
    • Read More