
On May 27, the President of Russia signed Decree No. 322. Now a special payment procedure applies to payments for the use of the results of intellectual activity.
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From May 24, 2022, traders are required to sell foreign exchange earnings in the amount of 50% (and not 80% as before) of the amount of foreign currency credited to their accounts as payment under foreign trade contracts under which goods are supplied to non-residents, services are provided, work is performed and the results of intellectual activity are transferred.
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If the amount of obligations under credits (loans) and financial instruments to all foreign creditors from unfriendly countries exceeds 10 million rubles, then in order for the debtor to fulfill obligations to any of these foreign creditors (regardless of the amount of the obligation), it is required to open an account of type “C” in a Russian bank on the name of this foreign creditor and through this account to fulfill obligations.
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The Bank of Russia, in its Information letter dated May 19, 2022, announced another easing of the temporary procedure for operations with foreign currency in cash.
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From April 1 to October 1, 2022, a moratorium was introduced on involuntary bankruptcy at the request of creditors (Decree of the Government of the Russian Federation of March 28, 2022 N 497). It applies to all legal entities, citizens and individual entrepreneurs.
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From May 16, 2022, the Central Bank of the Russian Federation allowed individuals to transfer up to $50,000 or the equivalent in another foreign currency abroad (previously the limit was $10,000). The rules have also been relaxed for non-residents working under labor contracts and civil contracts.
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The Ministry of Finance has determined the conditions under which the sale of 80% of foreign exchange earnings by a participant in foreign economic activity is not required.
Thus, the volume of the currency required for sale can be reduced to 0% of the amount of foreign exchange earnings, while meeting three conditions.

When paying distributed profits to foreign participants from unfriendly countries, a Russian resident must open a type “C” bank account in the name of such a participant and make payments through this account if their amount exceeds 10 million rubles per month.
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The Board of Directors of the Bank of Russia decided to lower the key rate from 17% to 14% per annum from May 4, 2022 (Information message of the Bank of Russia dated April 29, 2022).

All exporters are allowed to sell 80% of the foreign exchange earnings credited to their accounts from April 19, 2022, within 60 business days, instead of three business days as before.
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From April 11, 2022, individuals can receive from their bank accounts not only USD, but also Euros (within the limit equivalent to $10,000). From April 18, 2022, banks are allowed to sell foreign currency to individuals, but only the one that entered the cash desks of banks starting from April 9, 2022.
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The Federal Tax Service of Russia in the Information letter dated 04 May, 2022 announced that it is possible to register a company in Russia or become an individual entrepreneur in Russia in one working day.
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Starting from 2022, when calculating the transport tax, multiplying coefficients will no longer be applied.
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Federal Law No. 67-FZ of March 26, 2022 introduced amendments to parts one and two of the Tax Code of the Russian Federation aimed at supporting businesses and citizens in a difficult economic situation.
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As part of the adopted federal law dated March 26, 2022 N 67-FZ, which introduced changes to parts one and two of the Tax Code of the Russian Federation that also affected the area of transfer pricing in Russia.
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The Central Bank of the Russian Federation supplemented the list of transactions for which there is no restriction on the payment of an advance in the amount of 30% of the contract amount
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Starting April 1, 2022, individuals will be able to transfer up to $10,000 per month abroad
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A resident of Russia has the right to pay a non-resident an advance payment of no more than 30% of the amount of obligations under the contract if, under the terms of the contract, the non-resident must provide services to the resident or perform work, transfer information, results of intellectual activity or exclusive rights to them.
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The Chamber of Commerce and Industry of the Russian Federation has suspended the issuance of force majeure opinions on local Russian agreements related to sanctions, as amendments to the Civil Code of the Russian Federation are being prepared.
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Visa and Mastercard cards issued in the Russian Federation can be used in Russia: withdraw money from ATMs, pay and make transfers.
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Federal Law No. 46-FZ of 08.03.2022 approved a set of measures to support organizations and citizens in order to protect the national interests of the Russian Federation.
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From March 10 to September 10, 2022, organizations and individual entrepreneurs that are currency residents of the Russian Federation will be able to receive cash in USD, Japanese yen, Pounds sterling and Euros up to 5 thousand dollars, and only to pay for expenses on foreign business trips.
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Until December 31, 2022, a ban was imposed on the export of more than 200 items of goods from the Russian Federation (including technological, telecommunications, medical equipment, vehicles, agricultural machinery, electrical equipment).
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Until the end of 2022, Joint Stock companies and limited liability companies can distantly hold any general meetings.
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On March 9, the Central Bank introduced new restrictions on the operations of Russians with cash currency.
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The Russian government approved a list of 48 states unfriendly to Russia, including the US and the EU
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The changes were adopted by Decree of the President of the Russian Federation of February 28, 2022 No. 79 and by the Decree of March 01, 2022 No.81
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Foreign organizations in Russia are required to annually notify the Tax Authorities of information about their participants and beneficiaries no later than March 28, in the form approved by the joint Order of the Ministry of Finance and the Federal Tax Service of Russia dated December 1, 2021 No. ED-7-13/1046@.
For 2021 it is necessary to provide report no later than March 28, 2022.
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New rules for registration of sick leave. From 2022, medical facilities will register sick leaves only electronically.
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The new minimum wage is set in Russia from 01 January 2022 by the Federal Law No. 406-FZ of 06.12.2021 On Amendments to Article 1 of the Federal Law On the Minimum Wage.
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Let us wish you a Merry Christmas and warm wishes for the New year!
All the best to you and your families. Safe, healthy, and wealthy 2022!
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Moscow employers must again transfer 30% of

The President made the days from October 30 to November 7, 2021, inclusive of paid

The Ministry of digital development, communications and mass communications of the Russian Federation gave its explanation.
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The Tax Service plans to establish some new requirements for the use of the cash registers.
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The procedure for taxation of profit of the controlled foreign companies has been clarified.
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On November 6, a protocol was signed to amend the agreement on the avoidance of double taxation.
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The Decree on improvement of the Russian database of vacancies "Work in Russia" was signed.
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All international holding companies that are residents of Special Administrative Regions in Kaliningrad and Vladivostok will be able to transfer profits abroad with a 5% tax.
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The new law is intended to improve the procedure for determining the cadastral value of real estate objects.
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Accountants will have to collect information and submit it to the Social Insurance Fund within three days.
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In addition, the law requirements on currency regulation apply to cash and other financial assets.
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Vladimir Putin has signed a Federal law that strengthens control over foreign investment in Russian companies from strategic industries.
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In order not to lose money on personal income tax in 2020, Russian citizens will only need to stay in Russia for 90 days or more.
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On July 22, the State Duma adopted bill No. 891654–7 in the third reading, which involves amendments to articles 12 and 19 of the Law «on currency regulation and currency control». The list of permitted currency transactions, as well as cases of

They want to repeal the Federal Law № 54 on the application of cash register equipment and transfer all the rules to the Tax Code. At the same time, the Tax Code will add sanctions and remove them from the Administrative Code.
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Starting with July 1, the rules for obtaining and using an electronic signature will change.
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On June 25, 2020, the Russian Government approved the Order №

VAT for import and sale of milk fat substitute containing products is announced to be 10% starting with July,1.
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By Federal Law No.

The period from April 4 to April 30 of 2020 is set as paid

Russia temporary restricts entry of foreign citizens and stateless persons from March 18, 2020, until May 1, 2020
As well, the Ministry of Internal Affairs of Russia suspends the acceptance of documents, registration, and issuance of invitations to enter the Russian Federation for education and labor activities for foreign citizens and stateless persons, as well as permissions to attract and use foreign employees and permits to work to the specified citizens, including permissions for Highly Qualified Specialists.

The period from March 30 to April 3 of 2020 is announced by President of Russia as

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

The Federal Law No.
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.

In connection with the adoption of the Federal Law No.

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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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

By the Order of the Ministry of Economic Development of the Russian Federation No.698 of

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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