08May

Government Support Measures for Russian Business

Insurance contribution rate decreased from 30% to 15% All small and medium-sized businesses (SMEs) will now pay reduced insurance contribution rates. From that part of the salary that exceeds the minimum wage (12,130 ₽ in 2020) you need to pay 15%. Up to the amount of the minimum wage, the rate remains the same – […]

Posted by Awara
On May 8, 2020
2 Comments

05May

Russia in the Year of Corona. What to Expect of the Economy

Russia’s Corona Epidemic Response In a global comparison, Russia’s corona epidemic response has been very strong. The best and most foolproof indicator is the fatality rate. Russia has experienced the lowest Covid-19 mortality among all countries in the Northern Hemisphere, significantly lower than nearly all Western countries. Presently the fatality rate in Russia is 10 […]

Posted by Jon Hellevig
On May 5, 2020
3 Comments

20Apr

Can Companies Not Pay Rent in April?

Current government measures to combat coronavirus only allow a limited number of companies to operate as before. The rest are forced to either transfer employees to remote work, or completely stop activities. In both cases, companies cannot use the office, warehouse, department in the shopping center or other non-residential premises. At the same time, only […]

Posted by Awara
On April 20, 2020
2 Comments

03Apr

Is Working Remotely Allowed despite the Presidential Decree?

Yes, the Ministry of Labor supports working remotely, if the employee has all the necessary resources to work from home (if something is missing, the company must provide it). They will be able to work remotely even in those cities where an order on heightened preparedness due to the coronavirus has not been introduced. At […]

Posted by Awara
On April 3, 2020
0 Comments

03Apr

Current Situation in Russia in Connection with Covid-19

By morning April 3, Russia’s daily corona infections dropped to 601 from 771 the previous day, bringing the total up to 4,149. Moscow’s new case count was 448, down from 595, total 2,923. Moscow still 75% of all new cases in the country, means rest of Russia also down. Only 153 new cases in not […]

Posted by Awara
On April 3, 2020
0 Comments

02Apr

The President of Russia Prolonged Non-working Period until the End of April

Vladimir Putin extended non-working period until April 30 with the preservation of wages. This measure is introduced to curb the spread of coronavirus in Russia. The president reported several exceptions The following will continue to work as usual: continuously operating organizations, the suspension of which is impossible due to production and technical conditions; medical institutions […]

Posted by Awara
On April 2, 2020
0 Comments

01Apr

Is the Coronavirus Pandemic Force Majeure?

What is force majeure The COVID-19 pandemic and government efforts to curb its spread are challenging for businesses. Companies lose revenue, subcontractors spend a whole week on mandatory leave, there is not enough money to rent space, pay off loans, or pay salaries. Because of these problems companies would be happy to deny contractual obligations. Agreements […]

Posted by Awara
On April 1, 2020
0 Comments

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

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