News

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. 

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.

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.

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. 

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. 

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. 

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.

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.

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.

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.

From April 11, 2022, the Bank of Russia lowered the key rate to 17%

Starting from 2022, when calculating the transport tax, multiplying coefficients will no longer be applied. 

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.

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.

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

Starting April 1, 2022, individuals will be able to transfer up to $10,000 per month abroad

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.

Field tax audits of accredited IT companies will not be conducted until March 3, 2025.

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.

Visa and Mastercard cards issued in the Russian Federation can be used in Russia: withdraw money from ATMs, pay and make transfers.

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.

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.

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).

Until the end of 2022, Joint Stock companies and limited liability companies can distantly hold any general meetings. 

On March 9, the Central Bank introduced new restrictions on the operations of Russians with cash currency.

The Russian government approved a list of 48 states unfriendly to Russia, including the US and the EU

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

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.

The Central Bank decided to increase the key rate from the 28th of February, 2022.

New rules for registration of sick leave. From 2022, medical facilities will register sick leaves only electronically.

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.

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!

Information Notice of the Central Bank of the Russian Federation On Key Rate Increase.

Moscow employers must again transfer 30% of non-vaccinated employees to a remote work and must again submit information on the transfer of employees to a remote mode of work on a weekly basis. The corresponding requirement is provided for by the mayor’s decree of 19.10.2021 No. 61-UM.

The President made the days from October 30 to November 7, 2021, inclusive of paid non-working days in order to stabilize the situation with COVID-19. (Decree No. 595 of October 20, 2021) all over Russia. Local authorities are entitled to set extra non-working days.

Starting with the reporting for 2023.

There is a new version of the basic standard.

The tax authorities plan to extend the mechanism.

The Ministry of digital development, communications and mass communications of the Russian Federation gave its explanation.

From September 1, 2021.

There will be a special economic zone.

Online meetings appeared in the Civil Code on July 1, 2021.

Entrepreneurial activity is not recognized as employment.

The unvaccinated ones or with an exemption to the required vaccination.

Federal Service for Labour and Employment gave an explanation.

But e-mail can be used.

If an employee was waiting for a PCR test results.

From January 1, 2023, a new type will be applied.

Fingerprinting, photographing and medical examination are needed.

The Government approved the rules.

Since July 1, 2021.

Federal Law No. 267-FZ dd 01.07.2021.

Since July 1, 2021.

From March 1, 2021.

It is planned to introduce three new modes of stay.

They were included in the list on May 18, 2021.

Federal Law No. 311-FZ dd 02.07.2021.

From March 1, 2022.

The law has been signed.

The project of the law has been published on the federal portal.

But it does not apply to employees with a medical exemption.

The changes are coming.

For non-extracting businesses.

Starting from 2022.

If it prescribes a payment in cash.

For those companies which withdraw their profits abroad.

In January, March, May, June, and November. 

With revenue of up to 2 billion rubles.

From 2022.

The popular American broker is there.

From September 1.

The government supported the amendments.

Is it a violation of currency legislation?

Federal Service for Labour and Employment gave an explanation.

The amendments have been prepared.

Only after 90 days.

From June 1.

They need to involve additional people who have access.

The deadline for making some changes has been extended up to 7 business days.

There are two countries.

The new rules will take effect on July 1, 2021.

If they have an audience of more than half a million Russians.

Between Russia and the Netherlands.

From 2022.

Changes entered into force.

Use the new form.

The document is currently being discussed.

Federal Law No. 100-FZ dd 20.04.2021 will enter into force on January 1, 2022.

The resolution is published.

New rules will come into force from July 1, 2021.

This explanation is given by the Federal Service for Labour and Employment.

The Tax Service plans to establish some new requirements for the use of the cash registers.

Work will be completed in 2021.

From July 1.

The negotiations were unsuccessful.

Federal Law No. 74-FZ dd 05.04.2021 was signed.

With currency and blockchain.

The tax authorities have the right to withhold it.

Including annual improvements.

In fact, the contribution rate has already been reduced.

On March 26, the Recommendations were approved.

From April 26, 2021.

The term for administrative responsibility is 2 years.

By far, two options have been proposed.

It will be applied from 2022.

This applies to routine inspections.

Compatible with the ones used in the tax authority.

The protocol provides for increasing the tax.

The law also changes the structure of the rules on the storage of documents.

The protocol came into force on March 5, 2021.

The final decision has not been made yet.

From August 2021.

Until December 31, 2021.

Digital currency is recognized as property.

There are changes to primary documents' storage period.

The tax authorities will form notices.

The list of cases will be expanded.

The fines are up to 200 thousand rubles.

The Ministry of Labour is preparing the bill.

Investments from other regions are needed.

It will not be a cryptocurrency.

On the approval of annual reports and annual balance sheets.

For some types of business activities only.

The Ministry of Finance has published a list.

The changes imply a preventive approach to labour protection.

The deadline is March 1.

The draft law has been prepared.

From February 1, 2021.

The regime was expected to start from January 1, 2021.

According to the Decree No. 3675-r dd December 30, 2020

It is set out in Order No. 3709-r dd 31.12.2020.

The Government Decree was published.

Only if they are included in the register.

The bill has been submitted to the State Duma.

Between Russia and the Grand Duchy of Luxembourg.

Between Russia and Cyprus.

Federal Law No. 476-FZ was signed on 29.12.2020.

The law is adopted.

Starting from January 1, 2021.

What about private companies and people in the regions?

Now, the share of virtual cards is 10%.

Until June 15, 2021.

The Protocol was signed in Moscow 06.11.2020.

The State Duma adopted a new bill.

Its current form may lead to a capital outflow.

The relevant amendments have been prepared.

The corresponding Decree No. 3143-R dd 28.11.2020 was published.

The Decree has been published.

The decree was published on November 26.

It is stated it in a letter of the Ministry of Finance.

The bill was submitted to the State Duma.

Amendments to the Labour Code will come into force on January 1, 2021.

It is aimed at the transition from the Unified Imputed Income Tax System.

Starting January 1, 2021.

The companies must bring the number of employees in accordance with the resolution.

But there will be a transition period.

A draft must be submitted by November 20.

It comes into force starting from January 1, 2021.

The head of the Chamber of Commerce and Industry proposed to introduce responsibility.

The procedure for taxation of profit of the controlled foreign companies has been clarified.

On November 6, a protocol was signed to amend the agreement on the avoidance of double taxation.

For sports and recreation services.

The order comes into force soon.

The companies will be added on a monthly basis.

A new law came into force On October 26.

The Russian Federation’s Government has defined a list of services.

The current migration legislation allows.

How does it work?

The Federal law was signed.

The tax on dividends and interest will be 15%, but there are some exceptions.

It is possible to submit notifications through a single portal of public services.

There are 52 countries.

Until July 1, 2021.

Some projects were submitted to the State Duma.

It will be applied from January 1, 2021.

The Decree on improvement of the Russian database of vacancies "Work in Russia" was signed.

Several other decisions still require notarization.

A new draft law has been prepared.

Until December 15, 2020.

A new form is approved.

The order comes into force soon.

Shareholders will be able to discuss issues remotely.

The Ministry of Finance reminds about possible problems.

Foreign citizens will be able to get a job only on the basis of electronic patents.

The amendments entered into force on July 31, 2020.

It must be deposited to the Bank account first.

84 regions joined the experiment.

Entrepreneur is recognized as inactive if some conditions are simultaneously complied.

There are tax benefits and non-tax preferences for the residents.

Some declarations will be cancelled.

It is proposed to be not longer than 15 workdays.

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.

The new law is intended to improve the procedure for determining the cadastral value of real estate objects.

Accountants will have to collect information and submit it to the Social Insurance Fund within three days.

It has prepared a draft of amendments.

A new registration rule will be introduced.

The government is studying tax agreements.

But some benefits preserved.

In addition, the law requirements on currency regulation apply to cash and other financial assets.

From July 1, 2021, a new law comes into force.

For balancing on the verge of limits.

The Ministry of Economic Development proposed to simplify the tax system

This step was taken as part of the implementation of the Russian President’s decree.

Vladimir Putin has signed a Federal law that strengthens control over foreign investment in Russian companies from strategic industries.

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.

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 non-expatriation of currency, will be expanded.

Remote work will be included in the legislation.

LLC will get the refusal in liquidation in case of violation of terms

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.

On July 13, 2020, the State Duma introduced amendments to the Tax Code

Decree of the President of the Russian Federation No. 392 of 15.06.2020

Starting with July 1, the rules for obtaining and using an electronic signature will change.

Now it allows to pay 50% of the administrative fine in most numbers of violations

Amendments to the Russian Constitution have come into force on July 4, 2020

On June 25, 2020, the Russian Government approved the Order № 1671-R, which amended the Order № 635-R dated March 16, 2020. The Order regulates some features of foreign citizens' entry into the Russian Federation.

VAT for import and sale of milk fat substitute containing products is announced to be 10% starting with July,1.

By Federal Law No.102-FZ of 01.04.2020, obligatory insurance contributions are reduced from 01.04.2020 for small and midsized enterprises.

The period from April 4 to April 30 of 2020 is set as paid non-working days in Russia due to the COVID-19 situation.

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 non-working days throughout Russia with the preservation of employee earnings.

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

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.

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

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.

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.

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

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

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.

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

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

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

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.

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

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.