Information Notice of the Central Bank of the Russian Federation On Key Rate Reduce issued on 07.02.2020

Key rate of the Central Bank will be decreased from 10.02.2020

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The Federal Law No. 16-FZ of 06.02.2020  On Amendments to the Federal Law "On the Legal Status of Foreign Citizens in the Russian Federation" comes to force from 05.08.2020.

The Law simplifies the procedure for finding work in the Russian Federation for students of Russian professional and higher education institutions of foreign citizens and stateless persons.

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From 2021, companies are not obliged to submit declarations on transport and land taxes anymore.

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On January 1, 2020, an updated List of states and territories that do not provide tax information exchange with the Russian Federation, approved by Order of the Federal Tax Service of Russia No. MMV-7-17 / 511@ of 11.10.2019 On Approving the List of States (Territories), entered into force, that does not provide for the exchange of information for tax purposes with the Russian Federation, and on the recognition of the order of the Federal Tax Service of Russia dated 04.12.2018 No. MMV-7-17 / 786@ as invalid.

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In connection with the adoption of the Federal Law No. 478-fz of 27.12.2019, licenses for certain types of activities will be issued in electronic form from January 1, 2021.

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The Government of Russia established new limit values for social insurance contributions calculation for 2020. 

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From the 1st of January 2020 Minimum Pay Conditions it is set as 12 130 roubles per month.

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As part of the transition from the paper books for employment records to the electronic format, the Labor Code is supplemented by new Article 66’ - Employment Information. Employers will provide Employment Information to the Pension Fund electronically.

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The Bank of Russia decided to reduce the key rate from 6,50 % to 6,25 % starting on the 16th of December 2019. 

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Starting on the 1st of January 2019 VAT rate is changed from 18% to 20% 

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On the 8th and 9th of February 2017 in Crocus Expo exhibition center in Moscow National Airport Infrastructure Show 2017 (NAIS) will take place. 
 

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By the Federal Law N 460-FZ of 19.12.2016 it is set that minimum pay conditions will be 7 800 roubles per month from the 1st of July 2017.  

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By the Order of the Ministry of Economic Development of the Russian Federation No.698 of 03.11.2016 deflator coefficients for 2017

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Imporant news in the payroll legislation. Starting January 1, 2017 the Tax Code of the Russian Federation is supplemented by new Section XI and Chapter 34. 

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