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15Apr

Signs that the US Debt-Fueled Economy Might Actually Collapse

An Awara Accounting Study on US Economy 2018: Signs that the US Debt-Fueled Economy Might Actually Collapse Main findings: US debt-to-GDP to reach 140% by 2024 Net increase in debt could be as enormous as $10 to 15 trillion in just five years 2019 to 2024 Federal budget interest expenditure could reach $1.5 trillion by […]
28Mar

Annual General Meetings of a Russian Subsidiary

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 […]
27Mar

Awara Assists with 2017 Individual Tax Returns

Plan Your Filings in Advance We are glad to offer our services aimed at simplifying the process of filing tax declarations. The main issues associated with this process are described below. While most taxpayers do not need to file tax returns in Russia, some categories of taxpayers do have to file tax return forms annually […]
26Mar

Transfer Pricing Documentation & Reports

We would like to remind you that all Russian companies which performed controlled transactions in the 2017 calendar year must notify the tax authorities by submitting transfer pricing reports by May 20, 2018. Starting from June 1, 2018, tax authorities may request companies to provide the relevant transfer pricing documentation that confirms the transfer prices […]
15Mar

Russia launched its own “LinkedIn”

Today, the Federal Service for Labour and Employment of Russia (Rostrud) opened access to skillsnet.ru – a Russian professional networking platform powered by Rabota v Rossii (Work in Russia) employment web portal. The main idea is to develop skillsnet.ru to become the Russian alternative of the blocked LinkedIn. The new platform will host user profiles […]
20Feb

Online Sale of Alcoholic Beverages in Russia Deferred Until 2019

January 1, 2019 was introduced as the new implementation date in the latest version of the bill on online retail sale of alcoholic drinks in Russia. From this day, retailers won’t be banned from selling alcoholic beverages online any longer. Previously, the ban was expected to be removed in early 2018. The main opponent of this […]
13Feb

Google Continues Encouraging Websites to Use HTTPS Connection

Make sure that your company’s website has a secure connection: Google Chrome will label HTTP websites as non-secure starting from July 2018 Google continues encouraging website owners to migrate to a secure data transfer protocol (HTTPS) – the next stage of the campaign is scheduled for this summer. If the connection to a website is […]
24Jan

Scheduled inspections for Russian businesses in 2018

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 2018 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 […]
28Dec

Russia Introduced the Draft Bill on Cryptocurrencies Regulation

Cryptocurrencies and related blockchain technologies have created much hype, if not a real gold rush, among companies and enthusiasts. Some people believe that cryptocurrencies are the future of the world’s financial system; others see them as means of tax evasion and easy illegal transactions. In Russia, cryptocurrencies currently exist in a legal vacuum: they are […]
22Dec

Happy Holidays and a Joyful New Year!

We wish you successful new ventures and ideas in the upcoming new year. May the challenges you face make you stronger and may victories you achieve motivate you even further. We wish your business to be flexible in its decisions, dynamic in its growth, and skillful in nurturing talents. The next year is going to […]