Breadcrumb Home Articles. Accounting, payroll & HR, tax & legislation in Russia Articles Article 20.08.2019 OKVED codes check OKVED codes may not be consistent with actual activities for various reasons. We described possible adverse consequences of using incorrect OKVED codes. Read more Article 09.08.2019 The future of payroll We broach the subject of automation of payroll and HR recordkeeping and outline how companies and specialists should prepare for upcoming changes. Read more Article 15.07.2019 It is time to get ready for the 2019 audit We would like to remind you to prepare for an audit of financial statements 2019 and choose an audit organization Read more Article 11.07.2019 Immigration inspections Immigration inspections are often conducted in companies employing foreign nationals. In the article you find information about the measures to avoid liability and fines. Read more Article 04.07.2019 Notice of participation in MNE for 2018 Organizations which are part of a multinational group of companies with revenues exceeding set thresholds in the preceding fiscal year are required to submit a notice to tax authorities by August 31. Read more Article 28.06.2019 Payroll and HR administration services: FAQ Answers to questions frequently asked by clients about our payroll and HR recordkeeping services Read more Article 27.05.2019 Job positions without quotas in 2019 in Russia The professions for which no work permit quotas are set and foreign nationals are hired under a simplified procedure are listed in this article. Read more Article 27.05.2019 Ratification of OECD Multilateral Convention (MLI) The President of the Russian Federation signed Federal Law No. 79-FZ Ratifying the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Tax Base Erosion and Profit Shifting. Read more Article 25.04.2019 Quotas for foreign employees in Russia To obtain state authorization to hire foreigners, Russian employers must submit a foreign national hiring application before employing any foreign nationals. Read more Article 24.04.2019 Accounting services: FAQ We have answered in our article the questions frequently asked by our current and potential clients that have enquired about accounting services. Read more Article 22.04.2019 Sick leave notes: special cases When working with sick leave notes, it is necessary to pay attention to certain details to avoid financial losses, problems with the Social Insurance Fund and employees Read more Article 17.04.2019 New rules for inspection of personal data operators by Roskomnadzor The government approved on February13, 2019 rules according to which Roskomnadzor will inspect personal data operators. We have reviewed the main changes in this article Read more Article 25.03.2019 Rospotrebnadzor requires employers to ensure that their foreign employees are vaccinated for measles Employers hiring foreign nationals have to ensure that their foreign employees who have not been vaccinated or have no information about measles vaccination are vaccinated by December 31, 2019. Read more Article 11.03.2019 Personal income tax declaration for foreigners in Russia We would like to remind you that the deadline for declaring personal income tax for 2017 is coming. Read more Article 28.02.2019 Outsourcing accounting to Accountor We are often asked how to outsource accounting to us so we have described in our article how this is done. Read more Article 11.02.2019 Annual General Meeting of Shareholders Deadline is April 30, 2019 We would like to remind you that Russian law requires that limited liability companies and joint-stock companies hold annual general meetings of shareholders to approve their annual results Read more Article 08.02.2019 Useful 1С HR reports for managers We reviewed useful 1C HR reports for managers. Employee personal record cards, personal data, staffing changes, staff turnover rate, vacation balance, staff absence. Read more Article 10.01.2019 1С payroll reports useful for managers In this article, we have reviewed the payroll reports from 1C. Read more Article 28.12.2018 VAT for e-services provided by foreign companies Google tax will apply from January 01, 2019 onwards to all e-services purchased from foreign companies. Read more Article 25.12.2018 Labor law inspections State authorities have tightened control over compliance with labor laws. To minimize risks for your business, we suggest monitoring Russian laws which are regularly updated. Read more Article 18.12.2018 VAT increase up to 20%. What needs to be done? The VAT rate will increase from 18% to 20% from January 01, 2019. We discuss what needs to be done Read more Article 20.11.2018 Preparation of documents for fire safety, health and safety, and electrical safety in Russia The article discusses the documents for fire safety as well as health and safety that companies are required to have by law in Russia. Read more Article 24.10.2018 Trade secret in Russia Introducing a trade secret regime in a company can help avoiding financial risks, in particular, unfair competition. Read more Article 19.10.2018 Obligatory Examination for Foreigners in Russia With Test Examples The Federal Law aims at improvement of migration legislation of the RF regarding introduction of obligatory documentary certification of the Russian language skills, knowledge of the Russian histor... Read more Article 11.10.2018 Challenging cadastral value – Decrease in corporate property tax In our article we explain how corporate property tax can be decreased by challenging cadastral value of real estate. Read more Article 09.10.2018 Personal income tax for foreign employees in Russia The article outlines and explains the particularities of personal income tax for foreign employees in Russia. Read more Article 27.07.2018 Vacation and vacation pay in Russia: FAQ Questions about vacation and vacation pay accrual are often raised. We answer the most frequently asked questions about vacation and vacation pay in the article. Read more Article 06.07.2018 Changes in the rules for registration of foreign nationals There are new amendments to the migration legislation in Russia that come into force from 08.07.2018 Read more Article 25.06.2018 Repatriation of funds under loan agreements with non-residents in Russia Currency control over loans to non-residents has been tightened since April 14, 2018. Read more Article 22.06.2018 A period of transition opens up opportunities in Russia as well According to Timo Matinpalo, now is the time to secure slices of the future Russian market. Withdrawing in panic because of the weak economy or geopolitical risks in Russia is a mistake. Read more Article 14.06.2018 Corporate and annual financial statements by foreign companies operating in Russia What is the difference between IFRS and Russian Accounting Standards? How companies can bring these two reports together? The article answers these topics. Read more Article 08.06.2018 Interview with Pekka Viljakainen, advisor to the president of Skolkovo Foundation Timo Matinpalo, Accountor General Director, interviewed Pekka Viljakainen, one the most famous Finnish investors and entrepreneurs in Russia, adviser to the president of Skolkovo Foundation. Read more Article 07.06.2018 New Transfer Pricing Reporting in 2018 After Russia's accession to the international automatic exchange of information, new requirements for the provision of documents on Multinational Enterprise's Groups (MNE Groups) have appeared. Read more Article 30.05.2018 Proof of income ownership To apply Double Taxation Treaties, Russian companies have been required since 2017 to obtain from foreign recipients of income proof that such recipients have actual right to income Read more Article 04.05.2018 Reporting to statistics authorities in Russia All companies in Russia must provide certain data to the Federal State Statistics Service (Rosstat) which compile them in consolidated reports on Russian economy and social life. Read more Article 28.04.2018 Specifics of taxation in Russia The articles discusses the specifics of taxation regulation and the most sensitive points connected to taxation for foreign investors in Russia Read more Article 23.04.2018 Russia without visa The article discusses possible ways to visit Russia without visa. Read more Article 30.03.2018 Keeping information about beneficial owners Russian anti-money laundering laws require all legal entities to keep records and disclose information about their beneficial owners. Read more Article 30.03.2018 How do Double Taxation Treaties work in Russia? Here there are answers to the most frequently asked questions on double taxation treaties in Russia. Read more Article 29.03.2018 Risks of violation of Russian labor laws and regulations State authorities have tightened control over the fulfilment of applicable labor laws and regulations, and this could entail greater risks for business. Read more Article 19.02.2018 Transfer pricing in simple terms Have you ever done an internet search for "transfer pricing"? It is a rather dry and complicated subject, isn't it? Let's talk about transfer pricing in simple terms. Read more Article 12.02.2018 Conversion of Russian reporting into group reporting standards The article discusses differences between accounting and reporting standards that companies normally apply in Russia Read more Article 19.01.2018 New law on transfer pricing There is a new law setting out requirements for provision of 3-level transfer pricing documentation and also introducing provisions on automatic exchange of information. Read more Article 13.11.2017 Agent VAT upon payments to foreign companies in Russia Review of cases when Russian subsidiaries required to withhold agent VAT upon payment of fees for services rendered to their parent company. Read more Article 31.10.2017 Payroll audit in Russia The article tells about practical issues that need to be taken into consideration when payroll function is audited Read more Article 04.10.2017 How long should legal documentation for tax purposes be stored? In our article we discuss how long legal documentation should be stored for tax purposes, including both accounting and payroll/ HR documentation. Read more Article 05.09.2017 Electronic documentation exchange in Russia Platforms for electronic workflow in Russia. How to use them? Which goverment agencies accept electronic documents? Read more Article 26.07.2017 Zero accounting in Russia Zero reporting is usually submitted if a company has no payable tax at the end of the tax period due to the absence of activities. Read more Article 21.07.2017 Different tax audits in Russia: desk audit vs field audit We answer the frequently asked questions about desk and field audits in Russia. Read more Article 05.07.2017 Cash flow planning practice in Russia In the article we answer frequently asked the most questions about cash-flow planning in Russia. Read more Article 26.06.2017 To all companies in Russia with a website: Important Changes Amendments to the law related to those who collect, process and store any personal data will enter into force on July 01, 2017. Read more Article 16.06.2017 How to manage exchange rate differences and read P&L amid fluctuations in ruble exchange rate? Financial statements are currently prepared without considering most dangerous risks associated with exchange rate differences; this can result in inaccurate representations of the financial condition Read more Article 31.05.2017 Registration rules for foreigners during FIFA World Cup Foreign citizens arriving in Russia during the championship have to register at the place of their stay within 3 days of their arrival Read more Article 25.04.2017 Don’t Forget to Submit Information to Comply with the Federal Law No 129 We would like to remind you that due to Federal Law No. 129 On Registration of Legal Entities and Individual Entrepreneurs organizations required to submit information about different actions. Read more Article 09.03.2017 Open a company in Russia Many legal and organizational issues need to be addressed to ensure the registration and operations of a company in Russia. We have described how Accountor can help with these tasks Read more Article 13.02.2017 Choosing a business structure in Russia In the article we briefly tell about possible business structures in Russia and their advantages and disadvantages. JSC, LLC, representative office and branch office. Read more Article 10.02.2017 Specifics of payroll outsourcing in Russia Payroll in Russia combines various business aspects related to labor, social security and income tax laws, as well as to the recent addition of personal data law. Read more Article 24.01.2017 Audit in Russia: FAQ Frequently asked questions about audit in Russia. Which companies are subject to mandatory audits? Voluntary audits versus mandatory audits Read more Article 24.01.2017 VAT in Russia In our article we answer the most frequently asked questions about VAT in Russia Read more Article 26.12.2016 Vehicle Tax in Russia Many foreigners who own cars in Russia wonder whether they should pay vehicle tax. In our article we answer this and other questions related to vehicle tax. Read more Article 01.12.2016 Corporate income tax in Russia In our article we answer FAQ about corporate income tax: who and how should pay profit tax in Russia, what are the current profit tax rates, etc. Read more Article 25.11.2016 Tax penalties in Russia In our article we answer main questions about tax penalties in Russia. What is the penalty if tax returns are filed too late or are inaccurate? What if companies underpay tax? Read more Article 23.11.2016 Tax inspection in Russia Foreign companies doing business in Russia wonder how the Federal Tax Service operates and how they can handle unscheduled tax inspections. Read more Article 21.11.2016 Repatriating profits from Russia We answer the most common question about profits repatriation from Russia: "What is the most common way of repatriating profits from Russia?" "Are there any restrictions on dividend payments?" Read more Article 10.11.2016 Simplified tax system in Russia Our tax experts can help you assess whether applying for the simplified tax system would be advantageous, as well as help with overall tax planning. Read more Article 19.10.2016 Intellectual property in Russia Companies and individuals may seek protection of intellectual property rights in Russia as provided by Russian law. Read more Article 19.10.2016 Work permits & visas in Russia Our company has been providing work permit and visa support since 1992 so we do know all the critical details and peculiarities of the application process for work permits and visas for foreign nation Read more Article 21.09.2016 New OECD Automatic Exchange of Tax Information The Russian Ministry of Finance has drafted a bill intended to build a legal base for international automatic exchange of tax information and information on financial statements. Read more Article 31.08.2016 Regulations and HR documents required under Russian labor law We compiled a list of required internal regulations and HR documents as prescribed under the Russian Labor Code. Read more Article 15.07.2016 8 Reasons to outsource accounting, payroll and HR in Russia We are often asked about the reasons for outsourcing accounting, payroll & HR administration functions in Russia for the subsidiaries of international companies. Read more Article 11.07.2016 New OKVED codes as of July 11, 2016 From July 11, 2016 onwards new OKVED codes assigned as per the Russian Classification of Economic Activities will be used for state registration of legal entities and individual entrepreneurs. Read more Article 01.07.2016 Liability & risks for LLC owners & management in Russia In our article we explain what liability and risks owners and other persons participating in the management of LLC have Read more Article 14.06.2016 Case study: Determination of compulsory social insurance contributions Our article addresses determination of social insurance contributions when their payer didn’t submit documents to support its main economic activity. Read more Article 20.05.2016 Case Study The article addresses law enforcement practice issues related to determination of reporting period for accrual of insurance contributions when an organization is restructured through transformation Read more Article 05.05.2016 How to obtain a residence permit in Russia? We prepared a description of the procedure to apply for a permanent residence permit together with a list of the documents required for such application. The application procedure consists of 2 stages Read more Article 21.04.2016 What a foreign national should know about the sale of real estate property in Russia We listed 7 most important things related to taxation that a foreigner should know when selling real estate property in Russia Read more Article 04.04.2016 Accountor Guide: Travel and Business Expenses in Russian Accounting We are happy to announce the publication of Accountor Guide: Travel and Business Expenses in Russian Accounting. Read more Article 25.03.2016 Case study: Base for accrual of insurance countributions upon corporate restructuring Our article addresses legal practice issues related to the determination of base for accrual of insurance contributions upon corporate restructuring. Read more Article 22.03.2016 Foreign currency hedging transactions To mitigate foreign currency fluctuation risk, legal entities can hedge their transactions. Read more Article 15.03.2016 Voluntary medical insurance requirements for foreign employees The Bank of Russia has set up minimum requirements for voluntary medical insurance for foreign nationals coming to the Russian Federation to work. Read more Article 21.01.2016 Appointment of 2 Directors in a Russian company We are frequently asked whether it is possible that companies in Russia have 2 directors. Our lawyers answered this question in an article. Read more Article 18.11.2015 Business activity forms for foreign companies in Russia Detailed comparison of the types of legal entities/business forms that foreign companies can set up in Russia: LLC (OOO), branch, representative office. Read more Article 26.10.2015 Optimization of accounting processes in a company We specialize in outsourcing of accounting services, and over the years, we have gained a broad experience in optimizing accounting processes Read more Article 08.10.2015 Why is it important to monitor cash flow in companies in Russia? Cash flow plans allow companies to estimate the amount of funds available at any given time Read more Article 01.10.2015 Financing options for an LLC in Russia When setting up a company in Russia, this raises a question about what options are available to finance an OOO (LLC) and what the benefits each brings. In our article we explain the basics Read more Article 07.09.2015 Trade Levy in Russia: Taxation Particularities Trade levy is being introduced within the territory of Moscow on July 1, 2015. Read more Article 01.09.2015 Airlines and Ticket Reservation Companies Do Not Fall Under the New Personal Data Regulations The Ministry of Communications and Mass Media has made clear that Russian and foreign airlines, as well as ticket reservation and issuing agencies, do not fall within the scope of this new law. Read more Article 21.08.2015 How to dismiss an employee in Russia? In this article we share valuable information on how to dismiss an employee in Russia in accordance with the Labor Code. Read more Article 18.08.2015 Audit in Russia Our audit expert dwells upon the topic "Audit in Russia", how they are conducted and why they are so useful. Read more Article 11.08.2015 Net Assets of Companies in Russia Under More Intense Control Since 2015 net assets of commercial companies in Russia are under more intense control of the tax authorities. Read more Article 28.07.2015 Employers in Russia to Report Personal Income Tax Quarterly Very important changes for payroll regulations in Russia come into force since 2016. Read more Article 13.07.2015 Liquidation of a Company in Russia In order to help companies learn more about the whole process and be able to estimate possible time frames, we publish a liquidation plan for an LLC in Russia (OOO), which consists of 11 steps. Read more Article 21.05.2015 Does every company need a Chief Accountant? For many years traditional Russian accounting was based on “one company – one Chief Accountant” model, this issue provokes many questions. Here we answer whether a company needs a chief accountant Read more Article 13.05.2015 FAQ on Electronic Documents in Russia The concept of electronic accounting is rather new on the Russian market. We answer what is eDocuments and how to correctly use them. Read more Article 06.05.2015 Personal Data Protection Law in Russia: The Law Came into Force on September 1, 2015 By September 1, 2015 companies that process personal data must notify Roskomnadzor of this and provide information on the location of servers that contain personal data of Russian citizens Read more
